WorksheetsBusiness GCSE Edexcel
Total questions: 35
Worksheet time: 18mins
What is the formula for Total Cost
actual or budgeted sales - break even sales
total fixed costs + total variable costs
opening balance + net cash-flow
price x quantity
How much would you pay for a pair of these designer shoes?
Less than £10 - they are ugly!
Around £50- I guess they might be better quality than the ones you get at the beach store
Over £100- I'm all about the labels!
Which of the following is not part of the marketing mix?
Price
Packaging
Place
Promotion
A Ferrari is likely to have a high price tag because the design mix is focused on which of the following (pick 2)?
function
aesthetics
economic manufacture
What is the formula for revenue
total fixed costs + total variable costs
(gross profit/sales revenue) x 100
price x quantity
fixed cost/(sales price - variable cost)
What is the formula for Break Even
opening balance + net cash flow
price x quantity
gross profit - other operating expenses and interest
fixed cost / (sales price - variable cost)
What source of finance is for short term emergencies
Overdraft
Bank Loan
Venture Capital
Crowdfunding
What is the formula for break even
Fixed costs / contribution
Fixed costs / selling price
Variable costs / selling price
Fixed costs / margin of safety
What is the break even point
Where sales revenue is the same as fixed costs
Where sales revenue is the same as variable costs
Where sales revenue is the same as total costs
Where fixed costs is the same as variable costs
Asset
changing an existing product or process
any item of value that a business owns, such as machinery or premises.
the proportion of sales in a market that are taken by one business
the flow of goods and services out of a country
Brand loyalty
This is how you market your business
A customers willingness to buy a product from a particular business rather than from competitors
The logo that you use to advertise your business
A customers willingness to buy a product from competitors
Business plan
A document that tells you who owns it
A document that outlines how a business will advertise their products
A document that outlines how a business will fund a new business only
A document that outlines how an entrepreneur is going to set up a new business
Competitive advantage
Who your competitors are
An advantage a business has over its rivals that is unique and sustainable
A document showing you whats wrong with your business
A financial statement showing you your advantages over your competitors
What is the formula for Margin of Safety
actual or budgeted sales - break even sales
price x quantity
(gross profit / sales revenue) x 100
total fixed costs + total variable costs
What is the formula for Interest (on loans)
price x quantity
((total repayment - borrowed amount)/borrowed amount) x 100)
actual or budgeted sales - break even sales
sales revenue - cost of sales
What is the formula for Closing Balance
closing balance of the previous period
opening balance + new cash-flow
sales revenue - cost of sales
total fixed costs + total variable costs
What is the formula for Gross Profit
total fixed costs = total variable costs
gross profit - other operating expenses and interest
price x quantity
sales revenue - cost of sales
What is the formula for Gross Profit Margin
(gross profit / sales revenue) x 100
gross profit - other operating expenses and interest
price x quantity
sales revenue - cost of sales
What is the formula for Net Profit
(gross profit / sales revenue) x 100
gross profit - other operating expenses and interest
price x quantity
sales revenue - cost of sales
What is the formula for Net Profit Margin
(gross profit / sales revenue) x 100
gross profit - other operating expenses and interest
(net profit / sales revenue) x 100
sales revenue - cost of sales
Businesses can increase sales volume by
raising the price
cutting the price
The amount of product sold is known as
profit
sales revenue
sales volume
variable costs
Which of the following is an example of a low margin, high volume retailer?
What are the features of a mass market?
High levels of competition
High prices
Low prices
High levels of consumption
Businesses in a niche market are likely to have
Low profit margins
High profit margins
Which two of the following are examples of primary market research?
Articles on the Internet
Direct observation
Newspaper reports
Face-to-face survey
Government statistics
Which two of the following are examples of qualitative data?
In an entire school there are 1053 students
The new born baby has very soft skin
The average height for women in the UK is 5ft 4.7 inches
9 million people in the UK are members of a gym
The colour of the school uniform is mauve
Which one of the following is not an example of a customer need or expectation?
Convenience
Good quality
Limited choice
Value for money
Which two of the following are examples of how entrepreneurs can use market mapping
To identify a gap in the market
To identify where competing products fall across two dimensions
To identify the location of competitor businesses
To identify the best location for a new business
To advertise to customers where the business is located
Businesses that have unlimited liability are
incorporated
unincorporated
Limited companies
Franchises
In limited liability personal assets are protected
True
False
Neither
Both
Which is part of the marketing mix
Product
People
Plans
Advertisinf
What is the term for using mobile phones to sell products/services
E commerce
Apps
M Commerce
Payment platform
Which of these is an example of primary research
Focus Group
Internet
Company reports
Government statistics
Which of these is an example of qualitative market research
Government statistics
Questionnaire
Focus group
Trade reports
