Business GCSE Theme 1 Quiz (Edexcel)

Business GCSE Theme 1 Quiz (Edexcel)

9th Grade

34 Qs

quiz-placeholder

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Business GCSE Theme 1 Quiz (Edexcel)

Business GCSE Theme 1 Quiz (Edexcel)

Assessment

Quiz

Business

9th Grade

Practice Problem

Medium

Created by

Neil McNair

Used 19+ times

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34 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary aim of most start-up businesses?

To provide employment

To make a profit

To support the local community

To reduce competition

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Raw materials

Packaging costs

Rent for a factory

Wages based on hours worked

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of market research?

To reduce production costs

To understand customer needs and preferences

To increase the price of products

To recruit new employees

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a disadvantage of a sole trader business?

Unlimited liability

Shared decision-making

High set-up costs

Complex legal requirements

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a unique selling point (USP)?

A feature that makes a product stand out from competitors

A method of calculating profit

A type of business ownership

A legal requirement for all businesses

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a benefit of a business plan?

It guarantees business success

It helps secure finance from investors

It eliminates all risks

It ensures high profits

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula for calculating total revenue?

Selling price × Quantity sold

Fixed costs + Variable costs

Total costs ÷ Quantity sold

Profit - Total costs

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