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GCSE Business Questions

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GCSE business syllabus covers how the major types of business organisation are established, financed and run, and how their activities are regulated. Factors influencing business decision-making are also considered, as are the essential values of cooperation and interdependence.

GCSE business syllabus not only covers business concepts and techniques but also enhance related skills such as numeracy and enquiry.

GCSE Business Questions

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1. What is cost plus pricing?

a job description states information about the duties and tasks that make up a particular job it usually includes: - the title of the job - the hours and place of work - the main tasks that make up the job - the employees for whom the person will be responsiblecost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the toppost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goodswhen a firm joins with its distributers

2. What is forward vertical integration?

cost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the topa job description states information about the duties and tasks that make up a particular job it usually includes: - the title of the job - the hours and place of work - the main tasks that make up the job - the employees for whom the person will be responsiblepost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goodswhen a firm joins with its distributers

3. What are post-sales services?

when a firm joins with its distributerspost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goodsa job description states information about the duties and tasks that make up a particular job it usually includes: - the title of the job - the hours and place of work - the main tasks that make up the job - the employees for whom the person will be responsiblecost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the top

4. What is job description?

5. What is horizontal integration?

cost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the toppost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goodsHorizontal integration occurs when one firm joins with another firm at the end same stage of the same production proceswhen a firm joins with its distributers

6. What is JIT production?

cost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the topwhen a firm joins with its distributersJIT production or just in time production holds as little stock as possible. items are ordered just in time to be usedpost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goods

7. What happens to the sales of products that are not income elastic?

when a firm joins with its distributersThe sales of products that are not income elastic are relatively unaffected by changes in consumers' incomes as they are generally very cheap and greatly essential for our livingpost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goodscost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the top

8. What is sales value?

9. What are the disadvantages of being environmentally friendly aswell as follwing ethical policies?

when a firm joins with its distributerscost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the top- Ethical and environmentally friendly policies can increase costs. - If the business appears to claim that they are environmentally friendly and they are not they can receive very damaging publicity.post-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goods

10. What are some external risks to a business?

- a business may be faced by a new competitior - natural disasters such as floods and earthquakes can pose serious risk to businesses - governments can pass laws that can impact adversely on businessespost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goodswhen a firm joins with its distributerscost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the top

11. What is M - commerce?

M - commerce is the buying and selling of products through wireless handheld devices such as smartphonespost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goodscost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the topwhen a firm joins with its distributers

12. What does it mean when you break even?

when a firm joins with its distributersbreak even is the level of production at which a business's total costs and revenue from sales are equalcost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the toppost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goods

13. how do you select the best solution for this?

when a firm joins with its distributers- find the cause of the cash flow problem - find one to match your businesses circumstancespost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goodscost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the top

14. What are some extension stategies?

- cutting the price to make the product better value for money - spending more on advertising to make the product more popular - updating the packaging of the product - adding more or different features - trying to get people to buy more of the product - trying to get people to buy the product on more ocasions - trying to find new customerswhen a firm joins with its distributerscost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the toppost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goods

15. What are income elastic products?

cost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the topincome elastic products are those whose sales are sensitive to changes in consumers incomeswhen a firm joins with its distributerspost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goods

16. What is job production?

17. What are the disadvantages of a private limited company?

post-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goodswhen a firm joins with its distributerscost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the top- legal rpocedures need to be completed, such as registering the company - a summary of the businesses financial accounts must be produced and these have to be avalible to the general public - lack of privacy, competitors can use this against them - accounts must be checked by and independant account (auditor) which will create additional cost - business must pay corporation tax and this may be alot more than an individual will pay - any additional investors in the business become important stake holders - every share is one vote meaning they have a direct impact on the business, the may share different values and objectives to the owner which could cause problems

18. how do you measure the size of a business?

value of sales - how much market share do they have, how much profit they make value of the business - can be measured by calculating the value of its assets minus its liabilities, higher value of business= higher owner net worth number of employees - how many employess work for the business, this can usually be used when talking about charititescost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the topwhen a firm joins with its distributerspost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goods

19. What does the computer misuse act in 1990 state?

20. What are the advantages of being a sole trader?

- you are your own boss - descisions can be made easly as there is no one to debate - its easy to set up - you keep all the profits to yourself - you get full controll over all descisions madewhen a firm joins with its distributerspost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goodscost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the top

21. What are some advantages of business expansion?

cost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the topwhen a firm joins with its distributers- It can lead to economies of scale, which are benefits that come with a larger size. - It can lead to more power in the market. - Big firms have more status and the people in charge will feel more important, especially if it has grown while they were in charge. - Big firms are more expensive to take over so those in charge might feel safer - The rewards for staff are often linked to the size of the business so they may be eager for growthpost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goods

22. What is an aim?

cost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the toppost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goodsan aim is a general goal of a businesswhen a firm joins with its distributers

23. What are a few things an entreupeneur will need to spend money on in order to start a business?

post-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goodswhen a firm joins with its distributerscost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the toprenting or buying a building, shop or an office or a facotry and is likely to be relatively expensive vehicles, many business will require cars to visit customers and suppliers - vans, lorries to deliver products advertising the business, promoting your business if it is really new - this has to be done in order to get the brand name out there equipment and machinery for the business, most businesses require some equipment or machinery to make their products inventories of raw materials, a shope will need inventories if it is to have anything to sell

24. What are the disadvantages of JIT?

- buy small quantities so less likely to get bulk discount (economies of scale); more transport costs for more frequent deliveries - at risk if there are difficulties with supplierswhen a firm joins with its distributerscost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the toppost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goods

25. What is a recession?

cost pplus pricing is where products are priced by covering the cost of it to the retailer and adding a percentage on the topwhen a firm joins with its distributersa recession occurs when the value of an economy's output of goods and services falls for six months or longerpost-sales services is the meeting of customers needs after they have purchased the product - dealing quickyl and fairly with complaints - delivering products without delays - exchanging goods that are faulty or do not meet customers needs - repairing goods

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❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

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All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.

About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | What Should We Know?
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Without work one finishes nothing. - Ralph Waldo Emerson
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