Edexcel GCSE Business - Theme 1: Investigating Small Business Questions with Answers Solved.

Edexcel GCSE Business -
Theme 1: Investigating Small
Business Questions with
Answers Solved.

1.1.1 Consumer - CORRECT ANSWER✅✅someone who buys and uses goods and
services

1.1.1 Customer - CORRECT ANSWER✅✅someone who buys goods and services

1.1.1 Enterprise - CORRECT ANSWER✅✅a business or company, can also mean
entrepreneurial activity

1.1.1 Entrepreneur - CORRECT ANSWER✅✅someone who creates a business, taking
on financial risks with the aim of making a profit

1.1.1 M-commerce - CORRECT ANSWER✅✅using a mobile device to carry out
business transactions

1.1.1 Obsolete - CORRECT ANSWER✅✅out of date and not used anymore

1.1.1 Social media - CORRECT ANSWER✅✅websites that allow users to interact with
other users

1.1.2 Cash Flow - CORRECT ANSWER✅✅The amount of money coming and going
out of a business

1.1.2 Financial Reward - CORRECT ANSWER✅✅The money that an entrepreneur or
investor receives when a business succeeds

1.1.2 Intuition - CORRECT ANSWER✅✅Knowing something instinctively or
understanding something without conscious thought

1.1.2 Investment - CORRECT ANSWER✅✅Putting money into a business with the
intention of making a profit

1.1.2 Market Research - CORRECT ANSWER✅✅The process of gathering information
about the market and customers' needs and wants

, 1.1.2 Revenue forecast - CORRECT ANSWER✅✅A prediction of future revenue based
on expected sales; this is either a judgement or based on pervious sales patterns

1.1.2 Risk - CORRECT ANSWER✅✅The possibility that an enterprise will make lower
than anticipated profits or experience a loss

1.1.2 Sales Revenue - CORRECT ANSWER✅✅The amount of money that comes in
from selling a product or a service

1.1.2 Start-up - CORRECT ANSWER✅✅A new business, usually with only a small
number of employees

1.1.3 Economy - CORRECT ANSWER✅✅The system by which a countries money and
goods are produced and used

1.1.3 Ethics - CORRECT ANSWER✅✅The moral principles or standards the guide the
behaviour of the business of a person.

1.1.3 Loyalty - CORRECT ANSWER✅✅Supporting something or someone

1.1.3 Stakeholder - CORRECT ANSWER✅✅Anyone who has an interest in the
activities of a business

1.1.3 Unique Selling point (USP) - CORRECT ANSWER✅✅Something that makes a
product stand out from its competitors

1.1.3 Values - CORRECT ANSWER✅✅Standards of behaviour or moral principles

1.2.1 Choice - CORRECT ANSWER✅✅the number of available products or services
for a consumer to choose from

1.2.1 Convenience - CORRECT ANSWER✅✅how easy something is for someone

1.2.1 Need - CORRECT ANSWER✅✅something a customer needs as it is essential

1.2.1 Price - CORRECT ANSWER✅✅the amount of money a business charges for
their product or service

1.2.1 Quality - CORRECT ANSWER✅✅the level of effectiveness of a product or
service / the standard of the materials / features

1.2.1 Want - CORRECT ANSWER✅✅something a customer desires but isn't essential