The Purpose Of Business & Enterprise - GCSE Business Studies Rev

What is the primary purpose of a business?

• To create art

• To meet customers' needs and wants

• To entertain people

• To provide free services

Which of the following is an example of a 'need'?

• A new smartphone

• Food

• A video game

• A luxury car

What is a 'want'?

• Something essential for survival

• Something that is desired but not necessary

• A basic requirement for living

• A legal obligation

What does 'competitive advantage' mean?

• A strategy to lose customers

• A feature that makes a business stand out from competitors

• A way to increase prices

• A method to reduce costs

Who is considered a 'customer'?

• The person who uses a product

• The person who pays for a product

• The person who makes a product

• The person who sells a product

What is a 'consumer'?

• The person who pays for a product

• The person who uses a product

• The person who manufactures a product

• The person who markets a product

Which of the following is an example of a 'good'?

• A concert ticket

• A subscription to a streaming service

• A smartphone

• A cooking class

What is a 'service'?

• A physical item you can touch

• An intangible offering that provides value

• A product sold in stores

• A type of advertisement

What is 'revenue'?

• The total costs of a business

• The income generated from sales

• The profit made after expenses

• The number of employees in a business

What did Walt Disney aim to create with Disneyland?

• A place for adults only

• An amusement park for both children and adults

• A movie studio

• A restaurant chain