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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 are the advantages of secondary market research?

2. What is procurement?

3. What are protectionist measures?

protectionist measures are policies that governments use to protect their own businesses against foreign competitionprocurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contract- junior employees might have to take on some of the duties previously carried out by employees who were their line managers - some senior employees may have very wide spans of control when a level of hierarchy is removed- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford this

4. What are some other consequences of delayering other than reducing costs?

- junior employees might have to take on some of the duties previously carried out by employees who were their line managers - some senior employees may have very wide spans of control when a level of hierarchy is removed- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford thisprotectionist measures are policies that governments use to protect their own businesses against foreign competitionprocurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contract

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

procurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contract- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford thisrenting 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 sellprotectionist measures are policies that governments use to protect their own businesses against foreign competition

6. What are the advantages of using intermediaries in the distribution channel?

protectionist measures are policies that governments use to protect their own businesses against foreign competition- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford thisprocurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contract- a producer can access many thousands of customers by selling to retailers that then distribute to their own stores - intermediaries help to distribute the products widely and can save the manufacturer the costs of trying to distribute direct to many different customers in many different places - by selling its products in other stores, the producer enables the customer to compare what is on offer

7. how do the suppliers effect a business?

protectionist measures are policies that governments use to protect their own businesses against foreign competitionprocurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contract- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford this- a suppliers reliability is a very important on a business, what time their deliveries are can effect a businesses profit and plan - if a supplier can produce and deliver quickly and reliably, a business can hold relatively little stock because it can be replaced; this reduces its stockholding costs - if a supplier provides good-quality products, this will help the reputation and quality of business. it will not have problems with defects and returned items - if the supplier can produce efficiently, this will help reduce the costs of the business and enable it to provide its products at a better price or increase its own profit margins

8. total costs = [...] + variable costs?

total costs = fixed costs + variable costs- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford thisprocurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contractprotectionist measures are policies that governments use to protect their own businesses against foreign competition

9. What are the responsibilities of managers?

- work to achieve the shot and the long-term targets set by the directors - may be responsible for a function within the business - marketing or finance - use employees and other resources in the best possible ways- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford thisprocurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contractprotectionist measures are policies that governments use to protect their own businesses against foreign competition

10. if total revenues are less than total costs the business will make a [...]?

if total revenues are less than total costs the business will make a lossprocurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contract- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford thisprotectionist measures are policies that governments use to protect their own businesses against foreign competition

11. What are some examples of cash outflow?

12. What does the equality act in 2010 state?

protectionist measures are policies that governments use to protect their own businesses against foreign competitionthis law states that employees cannot be treated differently in the workplace on the basis of any of the following factors: - age - disability - race - gender reassignment - marrige and civil partnership - religion or belief - pregnancy or maternity - gender - sexual orientation- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford thisprocurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contract

13. Example of an income statement:££Sales Revenue500,000Cost of sales180,000Gross Profit320,000ExpensesWages100,000Rent50,000Advertising60,000Total Expenditure210,000Net Profit110,000?

None of the aboveprocurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contractprotectionist measures are policies that governments use to protect their own businesses against foreign competition- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford this

14. What happens if the levels of output are below break even?

procurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contractat these levels of production, total costs will be greater than total revenue. as a consequence, the business will make a lossprotectionist measures are policies that governments use to protect their own businesses against foreign competition- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford this

15. What are exports?

16. What is a partnership?

17. why might a business plan be created?

18. What are some of the changed in the business environment?

- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford thisprocurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contract'Technological change - Technology is changing at a rapid rate. This creates new markets and products. economic change - This involves a range of economic factors outside a business such as the cost of borrowing money from banks (the interest rate), the rate at which prices are increasing (which is called inflation) and the income in the economy (which is called Gross Domestic Product or GDP). The term ''economic environment' is sometimes used to refer to these economic factors outside a business Legal change - These are new laws and regulations (legislation). These may affect costs (for example, by insisting businesses pay a minimum wage to their employees) or demand for a product (for example, by preventing tobacco companies advertising their products). Environmental expectations - Customers and consumers are increasingly interested in the impact of a business on the environment. What resources is it using? How is it producing the product? How does it transport its product?'protectionist measures are policies that governments use to protect their own businesses against foreign competition

19. What are the solutions to cash flow problems?

- reschedule payments - cut costs - uses overdrafts - find new sources of cash inflowsprocurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contract- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford thisprotectionist measures are policies that governments use to protect their own businesses against foreign competition

20. What are 2 things a manger considers before putting their product out there?

protectionist measures are policies that governments use to protect their own businesses against foreign competitionprocurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contractthe size of the market, how big the market is in terms of the number of sales and how big in terms of sales value) he growth of the market, for example: if the sales in the market last year were 200000 units and this year are 220000 unite(10 percent growth)- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford this

21. What are 2 things a business should consider when dealing with stakeholders?

- how it communicates with them - does it need to keep them informed - whether it should involve different stakeholders in discusionsprocurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contractprotectionist measures are policies that governments use to protect their own businesses against foreign competition- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford this

22. What is flow production?

23. What are some of the problems with achieving consistent quality?

24. What is market share?

25. What are the 2 main ways cash flow forecast help?

procurement (or purchase) involves selecting suppliers, establishing the terms of payment and negotiating the contract- managers can identify the times where the business might be short of cash - managers can take suitable actions to avoid cash shortages becominga major problemprotectionist measures are policies that governments use to protect their own businesses against foreign competition- it can be gathered quickly or cheaply - magazines( economist, financial times), TV, journals, the internet - it can provide information on large sections of the population, it is unlikely for a business to be able to afford to gather information on the entire population but the governemt and other can afford this

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25 Questions

❤ 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.

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Without work one finishes nothing. - Ralph Waldo Emerson
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