Edexcel Business Theme 1

Which one of the following is an example of a consumer ‘want’?

• Warmth

• Shelter

• Makeup

• Food

Which two of the following are examples of the rewards of business

• Risk of financial loss

• Lack of security

• Personal Wealth

• Independence

• Personal Debt

Which two of the following are examples of the roles of an entrepreneur?

• Organising resources

• Producing goods or services

• Meeting customer needs

• Making business decisions

• Offering customer convenience

Which one of the following is an example of a product

• Spotify

• Drake Concert

• Apple Air pods

• Business Lesson

Which two of the following are examples of reasons for business failure

• Lack of security

• Failing to respond to market conditions

• Taking a calculated risk

• Selling online

• Lack of demand for the product or service

Which one of the following is an example of market segmentation?

• Interview

• Questionnaire

• Income

• Observation

Which two of the following are examples of primary market research?

• Market Report

• Interview

• Internet

• Focus Group

• Government Statistics

Which two of the following are disadvantages of secondary market research?

• Time consuming to collect and analyse

• Requires a lot of money

• Data may be unreliable

• Data might not be up to date

• Needs specialist training and skills

Which one of the following is an example of a fixed cost?

• Rent

• Package Costs

• Raw Materials

• Wages

Which two of the following are examples of non-financial business objectives?

• Market Share

• Survival

• Personal Satisfaction

• Profit

• Social Objectives