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Edexcel GCSE Business Year 11

Quiz by Neil McNair

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51 questions
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  • Q1
    What is the purpose of a break-even analysis in business?
    To eliminate competition from the market
    To predict future market trends
    To determine the point at which total revenue equals total costs
    To maximize profits
  • Q2
    What is the purpose of market research in a business?
    To increase production costs
    To gather data and information about customers, competitors, and market trends
    To decrease customer satisfaction
    To ignore customer feedback
  • Q3
    What is a sole trader in the context of business?
    A business owned and operated by one individual
    A corporation with multiple shareholders
    A non-profit organization run by volunteers
    A partnership between two companies
  • Q4
    What is the function of a business plan?
    To track daily sales and expenses
    To outline the goals, strategies, and financial projections of a business
    To hire new employees
    To expand operations globally
  • Q5
    What are the 4Ps of marketing?
    Profit, Production, People, Packaging
    Product, Price, Place, Promotion
    Placement, Pricing, Packaging, Public image
    Payment, Personnel, Production, Publicity
  • Q6
    What is cash flow in a business context?
    The amount of debt a business has
    The movement of money into and out of a business
    The number of employees in a company
    The location of a business' headquarters
  • Q7
    What is the purpose of a balance sheet in a business?
    To assess market competition
    To determine customer satisfaction levels
    To project future sales revenue
    To show the financial position of a business at a specific point in time
  • Q8
    What is meant by economies of scale in business?
    The marketing strategies used to promote a new product
    The cost advantages that a business gains as its production levels increase
    The profit margin made on each unit sold by a business
    The total revenue generated by a business in a specific period
  • Q9
    What is the role of human resources in a business?
    To handle financial transactions
    To oversee marketing campaigns
    To design product packaging
    To manage the recruitment, training, and development of employees
  • Q10
    In the context of business, what does the abbreviation 'CSR' stand for?
    Company Sales Revenue
    Customer Satisfaction Rate
    Cost Saving Ratio
    Corporate Social Responsibility
  • Q11
    What is meant by the term 'e-commerce' in the field of business?
    Easy Communication
    Electronic Commerce
    Effective Competition
    Economic Conditions
  • Q12
    What does the term 'ROI' stand for in the context of business?
    Research and Innovation
    Revenue of Income
    Return on Investment
    Risk of Inflation
  • Q13
    What is the purpose of a cash flow forecast in business?
    To advertise new products
    To conduct employee training
    To analyze market trends
    To predict the inflows and outflows of cash over a specific period
  • Q14
    What is the concept of 'economies of scale' in business?
    Marketing strategies to increase revenue
    Cost advantages that a business gains as it increases in size and output
    Employee training programs
    Customer loyalty programs
  • Q15
    What is the function of a profit and loss account in business?
    To summarize the revenues, costs, and expenses incurred by a business over a specific period
    To manage inventory levels
    To calculate employee salaries
    To provide customer service

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