IGCSE Business Studies Exam 2025 ACTUAL EXAM COMPLETE 120 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
1. Needs We cannot live without these.
2. Wants They benefit us but are not necessary to live.
3. Scarcity Lack of sufficient resources.
4. Needs (example) Water, food, housing.
5. Wants (example) Soft drinks, chocolate, furniture.
6. Opportunity The next best alternative.
Cost
7. Factors of Resources needed to produce goods and services.
Pro- duction
8. Factors of Land.
Pro- duction Labour.
(List) Capital.
Enterpris
e.
9. Land All natural resources.
10. Land Coal, oil, gas.
Resources
(examples)
11. Labour Man-power used in a copmany
12. Capital Finance and machinery
13. Entrepreneur Someone who organises, operates and takes risks
a
new business venture.
14. Enterprise Skill/risk-taking ability of entrepreneurs.
15. Added Value val- ue
+How to add +Justify adding value
To get this or any other Exam contact ()
,IGCSE Business Studies Exam 2025 ACTUAL EXAM COMPLETE 120 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
The difference materi- als.
between selling Increase selling price, decrease cost of
price and cost of materials The product must be desirable and
important to cus- tomers
To get this or any other Exam contact ()
,IGCSE Business Studies Exam 2025 ACTUAL EXAM COMPLETE 120 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
16. Sectors of The three stages a product passes through before
Pro- duction reach- ing the consumer.
+What are the Primary: Extracts/sells raw materials /Woodcutter
sectors (defini- Secondary sector: Manufactures goods using raw
tions and exam- mate- rials/Furniture maker
ples) Tertiary Sector: Sells products/ services to cus-
tomers/DFS
17. Chain of The sequence of a product passing through the
Produc- tion three sectors of production
18. Specialisation When a business concentrates on a particular
+Example industry or part of that industry.
Vauxhall makes only cars
19. Division of When production is split into different tasks
Labour performed by different people.
In a car plant, different people fitting the
headlights, seats, etc.
20. Difference be- Specialization is usually on a company-wide level.
tween Speciali- Division of labour deals with specific tasks.
sation and Divi-
sion of Labour
21. Mixed Economy Has both a private and public sector.
22. Public Sector Businesses owned by the government, to provide
+Example the people of a country.
Police service, free healthcare
23. Private Sector Businesses owned by private individuals for profit
+Example Supermarket
24. Privatisation Governments selling parts of of whole
businesses to pri- vate sector firms
25. Nationalisation Governments taking control of private sector
businesses
To get this or any other Exam contact ()
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
1. Needs We cannot live without these.
2. Wants They benefit us but are not necessary to live.
3. Scarcity Lack of sufficient resources.
4. Needs (example) Water, food, housing.
5. Wants (example) Soft drinks, chocolate, furniture.
6. Opportunity The next best alternative.
Cost
7. Factors of Resources needed to produce goods and services.
Pro- duction
8. Factors of Land.
Pro- duction Labour.
(List) Capital.
Enterpris
e.
9. Land All natural resources.
10. Land Coal, oil, gas.
Resources
(examples)
11. Labour Man-power used in a copmany
12. Capital Finance and machinery
13. Entrepreneur Someone who organises, operates and takes risks
a
new business venture.
14. Enterprise Skill/risk-taking ability of entrepreneurs.
15. Added Value val- ue
+How to add +Justify adding value
To get this or any other Exam contact ()
,IGCSE Business Studies Exam 2025 ACTUAL EXAM COMPLETE 120 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
The difference materi- als.
between selling Increase selling price, decrease cost of
price and cost of materials The product must be desirable and
important to cus- tomers
To get this or any other Exam contact ()
,IGCSE Business Studies Exam 2025 ACTUAL EXAM COMPLETE 120 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
16. Sectors of The three stages a product passes through before
Pro- duction reach- ing the consumer.
+What are the Primary: Extracts/sells raw materials /Woodcutter
sectors (defini- Secondary sector: Manufactures goods using raw
tions and exam- mate- rials/Furniture maker
ples) Tertiary Sector: Sells products/ services to cus-
tomers/DFS
17. Chain of The sequence of a product passing through the
Produc- tion three sectors of production
18. Specialisation When a business concentrates on a particular
+Example industry or part of that industry.
Vauxhall makes only cars
19. Division of When production is split into different tasks
Labour performed by different people.
In a car plant, different people fitting the
headlights, seats, etc.
20. Difference be- Specialization is usually on a company-wide level.
tween Speciali- Division of labour deals with specific tasks.
sation and Divi-
sion of Labour
21. Mixed Economy Has both a private and public sector.
22. Public Sector Businesses owned by the government, to provide
+Example the people of a country.
Police service, free healthcare
23. Private Sector Businesses owned by private individuals for profit
+Example Supermarket
24. Privatisation Governments selling parts of of whole
businesses to pri- vate sector firms
25. Nationalisation Governments taking control of private sector
businesses
To get this or any other Exam contact ()
