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Business Studies IGCSE Keywords

Authored by FRS Evolution

Business

10th Grade

Used 4+ times

Business Studies IGCSE Keywords
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13 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Define economies of scale.

A method of measuring time in economics

The process of downsizing a business

The concept of increasing prices to boost revenue

Cost advantages achieved by a business due to an increase in production volume, leading to lower average costs.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Explain the concept of market segmentation.

Market segmentation involves dividing a market into distinct groups based on various characteristics to better target marketing efforts.

Market segmentation is not necessary for successful marketing strategies.

Market segmentation involves targeting only one specific group of customers without considering other segments.

Market segmentation is the process of combining all markets into one large group for marketing purposes.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is meant by the term 'franchise'?

A franchise is a type of fast food restaurant

A franchise is a type of license that a party acquires to access a business's proprietary knowledge, processes, and trademarks to sell products or provide services under the business's name.

A franchise is a type of clothing brand

A franchise is a type of car rental service

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Describe the role of a trade union in business.

The role of a trade union in business is to represent the collective interests of workers, negotiate with management for better conditions, and provide a platform for workers to voice concerns.

Trade unions aim to reduce worker benefits and increase management control

Trade unions have no impact on workplace conditions

Trade unions are only concerned with individual worker issues

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Define the term 'stakeholder'.

A type of video game controller

A type of wooden stake used in construction

A type of dessert made with steak

A person, group, or organization that has an interest or concern in an organization.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Explain the difference between a merger and an acquisition.

A merger is when two companies combine to form a new entity, while an acquisition is when one company buys another company.

A merger is when two companies combine to form a new entity, while an acquisition is when two companies merge.

A merger is when two companies buy each other, while an acquisition is when one company buys another company.

A merger is when one company buys another company, while an acquisition is when two companies combine to form a new entity.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is meant by the term 'opportunity cost'?

The cost of an opportunity that is free

The value of the next best alternative that is sacrificed

The total cost of an opportunity

The cost of an opportunity that is not valuable

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