IGCSE Business Studies Revision

Successfully organisations do not achieve goals by chance but by following a deliberate process know as:

• Planning

• Co-ordination

• Controlling

• Management

People in the Organisations carry out diverse tasks with the aim to achieve:

• Different objectives

• Common objectives

• Both of the above

• None of the above

Which one is not an element of marketing mix?

• Product

• Promotion

• Consumer protection

• Industrial products

Which tool of promotion mix involves direct face to face conversation with prospective customers?

• Personal selling

• Sales promotion

• Advertising

• Publicity

Which is NOT a reason why government intervene in the economy?

• To protect individuals and groups

• To provide essential industries and services

• To control all business establishments

• To help the economy to run smoothly and to protect employment

A partnership has …

• limited liability and limited continuity.

• unlimited liability and unlimited continuity.

• limited liability and unlimited continuity.

• unlimited liability and limited continuity.

An advantage of using own funds as a source of funding for a business:

• No interest is paid on the funds

• Low interest is paid on the funds

• Low interest can be negotiated

• No interest is paid in the first year

A Business that breaks even has total revenue of US$5 600 000 and fixed costs of US$2 000 000. Therefore the value of variable cost?

• US$ 2 000 000

• UD$5 600 000

• US$7 600 000

• US$3 600 000

An increase in fixed cost will do which of the following?

• Shift the break even point to the left

• make the total cost function steeper

• Shift the break even point to the right

• make the total cost function flatter

Which of the following is a function of profit?

• A measure of global economic success

• Used to calculate the break even point

• Measure of business performance

• Measure of labour productivity