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Worksheets1.1 - 1.3 Edexcel Business Quiz 2
Total questions: 30
Worksheet time: 15mins
Business survival, Profit, Sales ,Market share Financial security are examples of?
Non financial aims and objectives
Financial aims and objectives
Changes in technology. Changes in what consumers want. Products and services becoming obsolete.
Why new business ideas come about.
How new business ideas come about.
Original ideas Adapting existing products/services/ideas.
Why new business ideas come about.
How new business ideas come about.
Business failure, Financial loss. Lack of security.
The impact of risk on business activity.
The impact of reward on business activity.
Business success. Profit. Independence.
The impact of risk on business activity
The impact of reward on business activity
One of the roles of business enterprise and the purpose of business activity.
Convenience
Price
To meet customer needs.
Convenience, Branding, Quality. Design. Unique selling points.
Understanding customer needs.
Ways to add value.
THe role on entrepreneurs
Organises resources.
Makes business decisions.
Takes risks.
The role of entrepreneurship. An entrepreneur…
The role of businesses.
Price
Quality
Choice
Convenience
Ways to add value.
The role of an entrepreneur.
What customer needs are.
Generating sales
Business survival
The importance of identifying and understanding customers.
The role of entrepreneurs.
Business rewards.
Survey
Questionnaire
Focus group
Observation
Market research.
Primary market research.
Secondary market research.
Internet. Market reports. Government reports.
Primary research methods.
Secondary research methods.
Qualitative and quantitative data.
The role of social media in collecting market research data.
The importance of the reliability of market research data.
Methods of market research.
Market research advantages.
The use of market research.
Location
Demographics
Lifestyle
Income
Age
Market research
Maket segmentation
The competitive environment
Market mapping.
Understanding the competitive environment.
The use of market research.
How businesses use market segmentation to target customers
Price
Quality
Location
Product range
Customer service.
Strengths and weaknesses of competitors based on.
Business aims and objectives when starting up:
Understanding the competitive market.
Understanding the competitive environment. The impact…
Of market segments.
Of competition on business decision making.
An overall target or goal of the business.
Aim
Objective
The steps a business needs to take to meet it's overall goal.
Aim
Objective
Survival
Profit
Sales
Market share
Financial security.
Financial aims.
Non-financial aims.
Social objectives
Personal satisfaction
Challenge
Independence and control.
Financial aims.
Non-financial aims.
Price x Quantity sold.
Calculation for total costs.
Calculation for variable costs.
Calculation for revenue.
Total fixed costs + Total variable costs
Total costs
Revenue
Margin of safety
Total variable costs
Fixed cost for one unit x Quantity
Variable cost for one unit x Quantity
((total repayment – borrowed amount)/borrowed amount) x 100
Break-even (units)
Interest (on loans) in %
Fixed costs/(sales price – variable cost per unit)
Break-even (units)
Break-even (revenue)
Interest (on loans) in %
Actual or budgeted sales – break-even sales
Break-even
Margin of safety
Cash inflows − cash outflows in a given period
Net cash inflow
Net cash outflow
Net cash flow
Closing balance of the previous period.
Closing balance
Opening balance
Opening balance + net cash flow
Opening balance
Closing balance
