IGCSE Business Studies Exam 2025 ACTUAL EXAM COMPLETE 250 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
1. A Need A good or service essential for living.
2. A want A good or service that people would like to have,
but which is not essential for living.
3. Economic Unlimited wants but limited resources - this
prob- lem creates scarcity.
4. Scarcity Lack of sufficient products to satisfy total wants
of popu- lation.
5. Opportunity The next best item given up by choosing another.
Costs
6. Factors of Resources needed to produce goods and services -
pro- duction land, labour, capital and enterprise
7. Business An organisation that combines factors of productio
to
make goods and services to satisfy people's wants
and needs.
8. Specialisation People and business concentrate on what they are
best
at.
9. Division of Production is split into seperate tasks each
labour worker spe- cialises in one task
10. Added Value The difference between a product's selling price
and the cost of bought in materials.
11. Primary sector Businesses that extract and use natural resources
to
produce raw materials.
12. Secondary sec- Businesses that manufactures goods using raw
tor materials provided by primary sector.
To get this or any other Exam contact ()
,IGCSE Business Studies Exam 2025 ACTUAL EXAM COMPLETE 250 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
13. Tertiary sector Businesses that provide services to consumers
and other firms.
14.
To get this or any other Exam contact ()
,IGCSE Business Studies Exam 2025 ACTUAL EXAM COMPLETE 250 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
Deindustrialisa- Decline in the importance of secondary,
tion manufacturing industry.
15. Mixed economy This has both private sector businesses and
public sector businesses.
16. Private sector Businesses owned by people, not the
goverment/state.
17. Public sector Businesses owned by goverment/state.
18. Privatisation The sale of public sector business to private sector
19. Entrepreneur Someone who organises, operates and takes the
risk for a new business venture.
20. Business plan The objectives and details of the operations,
finance and owners of a new business.
21. Capital em- The total value of capital used in a business.
ployed
22. Internal Growth The business expands its existing operations.
23. External Growth The business expands by merging with or taking
over
another business.
24. Takeover A business buys out the owners of another busines
25. Merger The owners of businesses agree to join their
firms togeth- er to form one business.
26. Horizontal inte-
gration 28.
27. Vertical
integra- tion
To get this or any other Exam contact ()
,IGCSE Business Studies Exam 2025 ACTUAL EXAM COMPLETE 250 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
The business
integrates with
another in the
same industry at
the same stage
of production.
The business
integrates with
another in the
same industry
but at a different
stage of
production -
towards
suppliers is
backward
vertical
integration and
towards the
market/cus-
tomer is forward
vertical
integration.
To get this or any other Exam contact ()
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
1. A Need A good or service essential for living.
2. A want A good or service that people would like to have,
but which is not essential for living.
3. Economic Unlimited wants but limited resources - this
prob- lem creates scarcity.
4. Scarcity Lack of sufficient products to satisfy total wants
of popu- lation.
5. Opportunity The next best item given up by choosing another.
Costs
6. Factors of Resources needed to produce goods and services -
pro- duction land, labour, capital and enterprise
7. Business An organisation that combines factors of productio
to
make goods and services to satisfy people's wants
and needs.
8. Specialisation People and business concentrate on what they are
best
at.
9. Division of Production is split into seperate tasks each
labour worker spe- cialises in one task
10. Added Value The difference between a product's selling price
and the cost of bought in materials.
11. Primary sector Businesses that extract and use natural resources
to
produce raw materials.
12. Secondary sec- Businesses that manufactures goods using raw
tor materials provided by primary sector.
To get this or any other Exam contact ()
,IGCSE Business Studies Exam 2025 ACTUAL EXAM COMPLETE 250 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
13. Tertiary sector Businesses that provide services to consumers
and other firms.
14.
To get this or any other Exam contact ()
,IGCSE Business Studies Exam 2025 ACTUAL EXAM COMPLETE 250 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
Deindustrialisa- Decline in the importance of secondary,
tion manufacturing industry.
15. Mixed economy This has both private sector businesses and
public sector businesses.
16. Private sector Businesses owned by people, not the
goverment/state.
17. Public sector Businesses owned by goverment/state.
18. Privatisation The sale of public sector business to private sector
19. Entrepreneur Someone who organises, operates and takes the
risk for a new business venture.
20. Business plan The objectives and details of the operations,
finance and owners of a new business.
21. Capital em- The total value of capital used in a business.
ployed
22. Internal Growth The business expands its existing operations.
23. External Growth The business expands by merging with or taking
over
another business.
24. Takeover A business buys out the owners of another busines
25. Merger The owners of businesses agree to join their
firms togeth- er to form one business.
26. Horizontal inte-
gration 28.
27. Vertical
integra- tion
To get this or any other Exam contact ()
,IGCSE Business Studies Exam 2025 ACTUAL EXAM COMPLETE 250 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+
The business
integrates with
another in the
same industry at
the same stage
of production.
The business
integrates with
another in the
same industry
but at a different
stage of
production -
towards
suppliers is
backward
vertical
integration and
towards the
market/cus-
tomer is forward
vertical
integration.
To get this or any other Exam contact ()
