A level business year 12 mocks
Questions and Answers
Updated2026
WhatBisBmeantBbyBaBbusiness?B-
BAnswerBABbusinessBisBanBorganisationBinvolvedBinBprovidingBaBgoodBandBserviceBto
BcustomersBinBreturnBforBmoney
WhatBisBanBopportunityBcost?B-
BAnswerBTheBlossBofBpotentialBgainBfromBotherBalternativesBwhenBoneBalternativeBis
BchosenS
SourcesBofBstartBupBbusinessBadviceB-
BAnswerBGovernment,BbankBmanagers,BventureBcapitalists,Bfamily/friends,BbusinessBm
entors,BbusinessBorganisations
WhatBisBenterprise?B-
BAnswerBTheBactionBofBshowingBinitiativeBbyBtakingBaBriskBtoBsetBup,BinvestBinBandB
runBaBbusinessBopportunity
WhatBisBanBentrepreneur?B-
BAnswerBABpersonBwhoBspotsBanBopportunity,BshowsBinitiativeBandBaBwillingnessBtoB
takeBrisksBinBorderBtoBbenefitBfromBtheBpotentialBrewards
CharacteristicsBofBentrepreneursB-
BAnswerBvisionary,BhighBenergyBlevel,BneedBtoBachieve,Bself-
confidenceBandBoptimism,BtoleranceBforBfailure,Bcreativity,BtoleranceBforBambiguity,Bint
ernalBlocusBofBcontrol
WhatBisBaBstakeBholder?B-
BAnswerBSomeoneBorBgroupBofBpeopleBwhoBhaveBanBinterestBorBinfluenceBinBaBbusi
ness
,WhatBisBaBmarket?B-BAnswerBanBinstitutionBthatBbringsBtogetherBbuyersBandBsellers.
TypesBofBmarketB-BAnswerBGeographical,BelectronicBandBphysical
WhatBisBmarketBsize?B-
BAnswerBtheBtotalBvalueBofBaBmarketBinBtermsBofBvolumeBofBsales
WhatBisBmarketBshare?B-
BAnswerBtheBportionBofBaBmarketBcontrolledBbyBaBparticularBcompanyBorBproduct.
WhatBisBmarketBgrowth?B-
BAnswerBtheB%BchangeBinBtheBsizeBofBaBmarketBcomparedBtoBtheBpreviousByear
WhyBareBbusinessBplansBneeded?B-BAnswerB-BEssentialBtoBraiseBfinanceB
-BHelpsBshowBtheBbusinessBviabilityB
-BGivesBbusinessBaBclearBfocusB
-BYouBcanBevaluateBaBbusinessBplan
SectionsBofBaBbusinessBplanB-BAnswerB-BExecutiveBsummary
-BTargetBmarket
-BProduct/service
-BCompetitors
-BProtectingBbusinessBideas
-BManagementBteam
-BMarketing
-BWhatsBinvolvedBinBproduction
-BCashflow/forecast
-BRisks/opportunities
-BProjectionBofBcompany
, ProblemsBofBbusinessBplansB-BAnswerB-BCanBbeBexpensive
-BTimeBconsuming
-BNeedsBcertainBskillsBtoBcrate
-BMayBbecomeBoutBofBdateBquickly
-BCouldBbeBincorrectBasBbasedBonBforecasts
WhatBisBaBbusinessBplan?B-
BAnswerBABwrittenBdescriptionBofBtheBbusinessBideaBandBhowBitBwillBbeBcarriedBout,
BincludingBallBmajorBbusinessBactivities.
WhatBquestionsBshouldBaBbusinessBplanBAnswer?B-BAnswerB-
BWhenBwillBtheBbusinessBbreakBeven/makeBprofit?
-BWhatBareBtheBmanufacturingBcosts?
-BWhatBisBtheBproduct/serviceBandBhowBisBitBunique?
-BWhoBisBtheBtargetBmarket?
MainBpurposesBofBaBbusinessBplanB-BAnswerB-BIdentifyBproblemBareasB
-BSecureBexternalBfunding
-BProvideBexpectationsBofBwhatBcanBbeBachievedB
-BSetBtargetsBandBreviewBthemBagainstBprogress
WhatBisBmarketBresearch?B-
BAnswerBCollectionBandBanalysisBofBdataBandBinformationBtoBinformBaBbusinessBabou
tBitsBmarket
StartBupBmarketBresearchB-BAnswerB-BSmallBscaleB
-BPartBofBbusinessBplan
-BLimitedBbyBbudget
Questions and Answers
Updated2026
WhatBisBmeantBbyBaBbusiness?B-
BAnswerBABbusinessBisBanBorganisationBinvolvedBinBprovidingBaBgoodBandBserviceBto
BcustomersBinBreturnBforBmoney
WhatBisBanBopportunityBcost?B-
BAnswerBTheBlossBofBpotentialBgainBfromBotherBalternativesBwhenBoneBalternativeBis
BchosenS
SourcesBofBstartBupBbusinessBadviceB-
BAnswerBGovernment,BbankBmanagers,BventureBcapitalists,Bfamily/friends,BbusinessBm
entors,BbusinessBorganisations
WhatBisBenterprise?B-
BAnswerBTheBactionBofBshowingBinitiativeBbyBtakingBaBriskBtoBsetBup,BinvestBinBandB
runBaBbusinessBopportunity
WhatBisBanBentrepreneur?B-
BAnswerBABpersonBwhoBspotsBanBopportunity,BshowsBinitiativeBandBaBwillingnessBtoB
takeBrisksBinBorderBtoBbenefitBfromBtheBpotentialBrewards
CharacteristicsBofBentrepreneursB-
BAnswerBvisionary,BhighBenergyBlevel,BneedBtoBachieve,Bself-
confidenceBandBoptimism,BtoleranceBforBfailure,Bcreativity,BtoleranceBforBambiguity,Bint
ernalBlocusBofBcontrol
WhatBisBaBstakeBholder?B-
BAnswerBSomeoneBorBgroupBofBpeopleBwhoBhaveBanBinterestBorBinfluenceBinBaBbusi
ness
,WhatBisBaBmarket?B-BAnswerBanBinstitutionBthatBbringsBtogetherBbuyersBandBsellers.
TypesBofBmarketB-BAnswerBGeographical,BelectronicBandBphysical
WhatBisBmarketBsize?B-
BAnswerBtheBtotalBvalueBofBaBmarketBinBtermsBofBvolumeBofBsales
WhatBisBmarketBshare?B-
BAnswerBtheBportionBofBaBmarketBcontrolledBbyBaBparticularBcompanyBorBproduct.
WhatBisBmarketBgrowth?B-
BAnswerBtheB%BchangeBinBtheBsizeBofBaBmarketBcomparedBtoBtheBpreviousByear
WhyBareBbusinessBplansBneeded?B-BAnswerB-BEssentialBtoBraiseBfinanceB
-BHelpsBshowBtheBbusinessBviabilityB
-BGivesBbusinessBaBclearBfocusB
-BYouBcanBevaluateBaBbusinessBplan
SectionsBofBaBbusinessBplanB-BAnswerB-BExecutiveBsummary
-BTargetBmarket
-BProduct/service
-BCompetitors
-BProtectingBbusinessBideas
-BManagementBteam
-BMarketing
-BWhatsBinvolvedBinBproduction
-BCashflow/forecast
-BRisks/opportunities
-BProjectionBofBcompany
, ProblemsBofBbusinessBplansB-BAnswerB-BCanBbeBexpensive
-BTimeBconsuming
-BNeedsBcertainBskillsBtoBcrate
-BMayBbecomeBoutBofBdateBquickly
-BCouldBbeBincorrectBasBbasedBonBforecasts
WhatBisBaBbusinessBplan?B-
BAnswerBABwrittenBdescriptionBofBtheBbusinessBideaBandBhowBitBwillBbeBcarriedBout,
BincludingBallBmajorBbusinessBactivities.
WhatBquestionsBshouldBaBbusinessBplanBAnswer?B-BAnswerB-
BWhenBwillBtheBbusinessBbreakBeven/makeBprofit?
-BWhatBareBtheBmanufacturingBcosts?
-BWhatBisBtheBproduct/serviceBandBhowBisBitBunique?
-BWhoBisBtheBtargetBmarket?
MainBpurposesBofBaBbusinessBplanB-BAnswerB-BIdentifyBproblemBareasB
-BSecureBexternalBfunding
-BProvideBexpectationsBofBwhatBcanBbeBachievedB
-BSetBtargetsBandBreviewBthemBagainstBprogress
WhatBisBmarketBresearch?B-
BAnswerBCollectionBandBanalysisBofBdataBandBinformationBtoBinformBaBbusinessBabou
tBitsBmarket
StartBupBmarketBresearchB-BAnswerB-BSmallBscaleB
-BPartBofBbusinessBplan
-BLimitedBbyBbudget