WorksheetsEdexcel Business GCSE Y11
Total questions: 30
Worksheet time: 23mins
Which of the following is a characteristic of a sole trader business ownership type?
Limited liability
Unlimited liability
Owned by shareholders
Requires a board of directors
Which element of the marketing mix is concerned with how a product is distributed to customers?
Product
Price
Place
Promotion
Which of the following is an example of a business acting ethically?
Paying employees below minimum wage
Using child labour
Reducing carbon emissions
Avoiding taxes
What is primary market research?
Research using existing data
Research conducted by a third party
Research that involves collecting new data
Research that is only conducted online
How is revenue calculated?
Total costs minus total sales
Total sales minus total costs
Price per unit multiplied by quantity sold
Quantity sold divided by price per unit
What is the purpose of a cash flow forecast?
To determine the profit of a business
To predict future cash inflows and outflows
To calculate the break-even point
To assess the value of assets
Which formula is used to calculate the break-even point in units?
Selling Price per Unit−Variable Cost per UnitFixed Costs
Selling Price per Unit−Fixed Cost per UnitVariable Costs
Total CostsTotal Revenue
Total RevenueTotal Costs
What is a key component of a business plan?
Employee personal details
Marketing strategy
Daily sales figures
Competitor's financial statements
Who are considered stakeholders in a business?
Only the owners
Only the employees
Anyone affected by the business
Only the customers
Which of the following is a consumer protection law in the UK?
The Companies Act
The Consumer Rights Act
The Employment Rights Act
The Data Protection Act
Which type of business ownership involves shareholders?
Partnership
Sole trader
Private limited company
Franchise
Which element of the marketing mix involves advertising and sales promotions?
Product
Price
Place
Promotion
What is a disadvantage of using secondary market research?
It is time-consuming to collect
It is expensive to gather
It may be outdated or not specific
It requires a large sample size
What is the term for the costs that do not change with the level of output?
Variable costs
Fixed costs
Marginal costs
Total costs
What is the main purpose of consumer law?
To protect businesses from competition
To ensure fair trade and protect consumers
To regulate employee wages
To control the supply of goods
Which of the following is a financial reason why an entrepreneur might start-up a new
business?
To make a profit
To pursue a skill or interest
To have more freedom in decision-making
To achieve a work-life balance
Which of the following best describes the term, obsolete?
Demand more of a particular product or service
Want, and can afford, to buy more products and services
Can no longer afford to buy a particular product or service
No longer want to buy a particular product or service
Lack of overall planning and poor decision-making can lead to business failure. This is known as:
Poor management
Poor quality
Poor understanding of the economy
Poor sales levels
Which of the following is a type of segmentation based on how much a customer earns?
Lifestyle
Age
Location
Income
A business manufactures and sells vegetarian ready meals. Which type of market segmentation would the business most likely use?
Location
Lifestyle
Gender
Age
What is meant by "Fixed costs" in business?
Costs that vary depending on the amount of goods produced
Costs that do not vary with output
Costs that include utilities and rent only
Costs that are determined by market conditions
What is meant by "Limited liability" for shareholders?
Unlimited financial responsibility for company debts
Responsibility for company management
Protection from losing more than their investment
Obligation to invest additional funds regularly
What does "Local community" imply in a business context?
A group of businesses in the same industry
International stakeholders
People affected by the business's operations locally
Online communities related to the business
Which of the following is a component of the "Marketing mix"?
Price, Product, Promotion, Place
Planning, Preparation, Performance, Post-analysis
Product, Price, Profit, People
Place, Performance, Potential, Profit
What is meant by "Organic growth" in a business?
Expansion through mergers and acquisitions.
Growth through increasing headcount and physical locations.
Growth which occurs as a business sells more of its own products.
Growth achieved through outsourcing.
What is the primary focus of public relations in a business context?
To ensure all employees are satisfied
To promote a business using media and other indirect methods to foster a positive image
To directly increase sales through advertising
To manage the financial accounts of the business
What does the term 'Quality assurance' refer to?
The process of hiring new employees
The marketing strategies to promote products
Setting up processes in production to ensure that quality is achieved
Developing new business locations
