WorksheetsEdexcel GCSE Business Theme 1 Section 1
Total questions: 20
Worksheet time: 12mins
What is demand?
the number of units that customers want and can afford to buy
customers who want to buy
the number of units the company supplies
customers who desire the product
a product or service with sales that have declined or come to an end as customers find something new
(a)
Which of these is adapting existing products?
Charging a different price
Faster ways to provide a service
Different pack size
New flavour
A feature of a business that helps it to succeed against rivals
(a)
Which of the following is not a risk associated with starting a new business?
Business Failure
Financial Loss
Lack of security
Loss of Friends
Which of the following is not a reward for starting a business?
Business success
Paying tax
Independence & being own boss
Profit and wealth
Good business people do not try to weigh up?
the chances success or failure
the costs or benefits of success or failure
the implications for the business as a whole
the business opening hours
What is the difference between goods and services?
Services cost more
Goods are purchased in a shop
Goods are tangible, Services intangible
They are the same
Which of these is not a Service?
Hair cut
Dental check-up
Travelling on train
Train
Which of these is not a Good
Scissors
Train
GP appointment
Orange
Which of the following are a way of 'adding value'
Price
Branding
Quality
Convenience
Which are the three key roles an entrepreneur must fulfill?
organising resources
making business decisions
take customers to lunch
taking risks
Three ways that new business ideas come about are
Ask a friend
Changes in what customers want
Changes in technology
Products becoming obsolete
Which of the following is the role of an entrepreneur?
To be a sole trader
Personal Satisfaction
Taking risks
Going to university
How can a small business add value?
Locate in a convenient place
Pay a higher rate of taxation
Reduce its cash inflows
Use a long term source of finance
Which one of the following is a service?
Birthday cake
Mobile phone
Plane journey
Newspaper
Business enterprise only has a role when someone is starting up a new business?
Yes
No
An entrepreneur has put a lot of money into a business even though there is a high risk they might lose all their money. Why?
Willing to take the risk
What else will they spend their money on
They think it is a dead cert for success
Someone advised them to go for it
What is an example of a reward from starting a business?
Increased overheads
Lack of security
Financial overheads
Independence
Which of the following is not an example of risk starting a business?
Running out of cash
Buying a coffee on way to work
Raising enough capital
Retaining customers
