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WorksheetsEdexcel Business GCSE All Paper 1 MCQs from past papers
Total questions: 51
Worksheet time: 29mins
Which one of the following is an example of a non-financial objective for an entrepreneur starting a new business?
Survival
Profit
Market share
Independence
Which one of the following is a financial aim for an entrepreneur when starting a new business?
Personal satisfaction
Independence
Market share
Challenge
Which one of the following is an example of a variable cost?
Rent
Raw materials
Insurance
Advertising
Which one of the following is a definition of margin of safety?
The difference between actual and break even levels of output
Where total revenue and total costs are equal
The number of sales required to reach break even
the amount sales can fall before the
break-even
point is reached and the business makes no profit.
Which one of the following best defines the term stakeholder?
An owner of a private limited company
Someone with an interest in the business
Any individual who takes decisions within a business
An individual who owns shares in a business
Which one of the following is an example of a reward from business activity?
Financial loss
Increased overheads
Independence
Lack of security
Which one of the following is a disadvantage of starting a partnership?
Business owners have different skills
Can be easier to raise finance
Business decisions affect all partners
Financial information is kept private
Which one of the following is a long-term source of finance?
Overdraft
Revenue
Trade credit
Venture capital
Which one of the following is a short-term source of finance?
Retained profit
Share capital
Trade credit
Venture capital
Which one of the following is an example of a cash outflow for a small business?
Bank loan
Personal savings
Raw materials
Receipts
Which one of the following is an example of a variable cost?
Insurance
Packaging
Rent
Salaries
Which two of the following areas are covered by employment law?
Consumer rights
Discrimination
E-commerce
Health and safety
Quality of products
Which two of the following are elements of the marketing mix? Select two answers.
Payment
Planning
Price
Product
Profit
Which one of the following could be used to identify a market segment?
Demographics
Inflation
Marketing mix
Revenue
Which one of the following is a characteristic of a sole trader?
They require a business qualification
They have unlimited liability
They can sell shares to raise finance
They do not employ staff
Which one of the following is a definition of an exchange rate?
The flow of goods and services into a country
The value of one currency in terms of another currency
A tax on a particular good or service
When businesses operate on an international scale
Which one of the following is a definition of insolvency?
A product becoming obsolete
Business failure due to unpaid debts
Generating high levels of revenue
Understanding the business environment
Which one of the following is a definition of market share?
Market research that can be collected and analysed
The proportion of sales in a market made by one business
The total amount of money from business sales
A group of people who discuss their views on a product
Which two of the following are examples of secondary market research? Select two answers.
Focus group
Internet
Market report
Observation
Survey
Which two of the following are examples of variable costs? Select two answers.
Advertising
Insurance
Packaging
Raw materials
Rent
Which two of the following are examples of a service? Select two answers.
Birthday cake
Fitness class
Mobile phone
Newspaper
Train journey
Which two of the following are examples of cash inflows?
Bank loan
Insurance
Raw materials
Receipts
Wages
Which two of the following are types of technology that could be used by a business?
Consumer law
Crowd funding
Digital communication
Marketing mix
Payment systems
Which two of the following can be interpreted from a break even diagram? Select two answers.
Insolvency
Margin of safety
Market share
Net cash flow
Profit
Which one of the following could be used to identify customer needs? Select one answer.
Business idea
Business objectives
Market research
Marketing mix
Which one of the following could a small business use to 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 could market mapping be used for?
Identifying how many customers there are in a market
Identifying how many employees work in a business
Spotting where there is a gap in the market
To identify the location of a business
Which one of the following is an impact of a decrease in interest rates?
Businesses will borrow less money
Customers will borrow less money
Customers will borrow more money
Repayments on loans should go up
Which two of the following are examples of customer needs? Select two answers.
Choice
Profit
Quality
Risk
Taxation
Which two of the following are roles of an entrepreneur? Select two answers.
Going to University
Organising resources
Personal satisfaction
Taking risks
To be a sole trader
Which two of the following are examples of primary market research? Select two answers.
Internet research
Market reports
Customer survey
Government statistics
Focus group
Which one of the following is an example of secondary market research?
Customer survey
Focus group
Market report
Observation
Which one of the following statements about a franchise is correct?
A franchisee makes all their own decisions
The franchisor pays the franchisee to set up in business
The franchisor provides continued help and support
Franchises pay lower Value Added Tax than sole traders
Which one of the following is a benefit of starting a business as a franchise?
Lower variable costs
Support from the franchisor
Higher interest rates for borrowing
Franchisees pay lower tax
Which one of the following describes the role of an entrepreneur? Select one answer:
Being employed by a large organisation
A willingness to take risks
Having sufficient money to start a new business
Being able to work alone
Which two of the following are examples of services? Select two answers:
Train journey
Magazine
Headphones
Haircut
Mobile phone
Which one of the following is a benefit of market research for a new business?
It reduces all business costs
It helps understand customer preferences
It guarantees business success
It eliminates competition
Which one of the following is a characteristic of a partnership?
Only one owner is allowed
Unlimited liability for all partners
Profits are not shared
Shares can be sold to the public
Which one of the following is an example of a fixed cost for a small business?
Raw materials
Electricity used in production
Packaging
Monthly rent
Which one of the following is an example of a fixed cost for a business?
Commission paid to sales staff
Raw materials
Monthly insurance premium
Packaging
Which one of the following is a short-term source of finance for a small business?
Bank overdraft
Retained profit
Venture capital
Share capital
Which one of the following is a non-financial objective for an entrepreneur?
Achieving independence
Raising capital
Increasing market share
Profit maximisation
A business seeks to have a competitive (a) .
(a) : "Changing an existing product or process"
"The laws that a business must comply with"
(a)
The 4 P's are Product, Price, Promotion and Place. They are known as the "_________ ___"
(a)
???????? : "Out of date or no longer used"
(a)
The proportion of revenue left over after costs have been deducted.
(a)
investors who are part owners in the company.
(a)
Which one of the following is a benefit of being a sole trader?
Full control over business decisions
Business profits are shared
Limited liability
Ability to sell shares to the public
Which one of the following is a reason why a business might conduct market research?
To reduce staff numbers
To avoid paying taxes
To understand competitors
To increase production costs
