AQA A Level Business 2024/2025 Exam
Questions and Verified Answers |
Already Graded A+
Name three ways business impacts a country and its residents: - 🧠
ANSWER ✔✔Provides employment
New products can enhance the lives of consumers
Improve a country's reputation
What do businesses do in the primary sector? - 🧠 ANSWER ✔✔Extract or
grow raw materials
What do businesses do in the secondary sector? - 🧠 ANSWER
✔✔Manufacture goods using raw materials
What do businesses do in the tertiary sector? - 🧠 ANSWER ✔✔Provide
services
What do mission statements create? - 🧠 ANSWER ✔✔Corporate aims
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,What are the benefits of setting business objectives? - 🧠 ANSWER
✔✔Provide direction and can support planning and operations
Allow a business to co-ordinate resources and ensure that all employees
are working towards the same overall aim
What is profit maximisation? - 🧠 ANSWER ✔✔A business objective that
requires a business to achieve the highest amount of profit for shareholders
Which business objective requires a business to continue trading despite
challenges in the external environment? - 🧠 ANSWER ✔✔Survival
Which business objective requires the growth of stores or locations, sales
value, sales volume or product range? - 🧠 ANSWER ✔✔Growth
Which business objectives require a business to focus on supporting
society through initiatives including sustainability and fair trade? - 🧠
ANSWER ✔✔Social, ethical and environmental
What can corporate objective be broken down into? - 🧠 ANSWER
✔✔Functional objectives
Team objectives
Individual objectives
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STATEMENT. ALL RIGHTS RESERVED
,What is revenue? - 🧠 ANSWER ✔✔The income earned by a business from
the sale of its goods and services
What is the calculation for revenue? - 🧠 ANSWER ✔✔number of sales x
sales price
What are the types of costs? - 🧠 ANSWER ✔✔Variable Fixed
What are variable costs? - 🧠 ANSWER ✔✔Costs that change directly with
output
What are fixed costs? - 🧠 ANSWER ✔✔Cost that do not vary as the
company changes its output
Who argued in 1980 that a business can be a cost leader or differentiated
but not both? - 🧠 ANSWER ✔✔Michael Porter
What is profit? - 🧠 ANSWER ✔✔The amount of money that the business
makes when taking into account costs
What is the calculation for interest? - 🧠 ANSWER ✔✔interest rate x the size
of the loan
What is the calculation for profit? - 🧠 ANSWER ✔✔total revenue - total
costs
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
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STATEMENT. ALL RIGHTS RESERVED
, What do we call things like raw materials that businesses convert into
outputs? - 🧠 ANSWER ✔✔Inputs
What kind of sector do forestry businesses operate in? - 🧠 ANSWER
✔✔Primary sector
What does the SMART acronym of business objectives stand for? - 🧠
ANSWER ✔✔Specific
Measurable
Agreed
Realistic
Timely
Which type of costs don't change with a business' output? - 🧠 ANSWER
✔✔Fixed costs
What is a sole trader? - 🧠 ANSWER ✔✔A single person who is the
exclusive owner of a business.
What is the term used to describe the lack of distinction between a sole
trader's assets and their business' assets? - 🧠 ANSWER ✔✔Unlimited
liability
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
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STATEMENT. ALL RIGHTS RESERVED
Questions and Verified Answers |
Already Graded A+
Name three ways business impacts a country and its residents: - 🧠
ANSWER ✔✔Provides employment
New products can enhance the lives of consumers
Improve a country's reputation
What do businesses do in the primary sector? - 🧠 ANSWER ✔✔Extract or
grow raw materials
What do businesses do in the secondary sector? - 🧠 ANSWER
✔✔Manufacture goods using raw materials
What do businesses do in the tertiary sector? - 🧠 ANSWER ✔✔Provide
services
What do mission statements create? - 🧠 ANSWER ✔✔Corporate aims
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
1
STATEMENT. ALL RIGHTS RESERVED
,What are the benefits of setting business objectives? - 🧠 ANSWER
✔✔Provide direction and can support planning and operations
Allow a business to co-ordinate resources and ensure that all employees
are working towards the same overall aim
What is profit maximisation? - 🧠 ANSWER ✔✔A business objective that
requires a business to achieve the highest amount of profit for shareholders
Which business objective requires a business to continue trading despite
challenges in the external environment? - 🧠 ANSWER ✔✔Survival
Which business objective requires the growth of stores or locations, sales
value, sales volume or product range? - 🧠 ANSWER ✔✔Growth
Which business objectives require a business to focus on supporting
society through initiatives including sustainability and fair trade? - 🧠
ANSWER ✔✔Social, ethical and environmental
What can corporate objective be broken down into? - 🧠 ANSWER
✔✔Functional objectives
Team objectives
Individual objectives
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
2
STATEMENT. ALL RIGHTS RESERVED
,What is revenue? - 🧠 ANSWER ✔✔The income earned by a business from
the sale of its goods and services
What is the calculation for revenue? - 🧠 ANSWER ✔✔number of sales x
sales price
What are the types of costs? - 🧠 ANSWER ✔✔Variable Fixed
What are variable costs? - 🧠 ANSWER ✔✔Costs that change directly with
output
What are fixed costs? - 🧠 ANSWER ✔✔Cost that do not vary as the
company changes its output
Who argued in 1980 that a business can be a cost leader or differentiated
but not both? - 🧠 ANSWER ✔✔Michael Porter
What is profit? - 🧠 ANSWER ✔✔The amount of money that the business
makes when taking into account costs
What is the calculation for interest? - 🧠 ANSWER ✔✔interest rate x the size
of the loan
What is the calculation for profit? - 🧠 ANSWER ✔✔total revenue - total
costs
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
3
STATEMENT. ALL RIGHTS RESERVED
, What do we call things like raw materials that businesses convert into
outputs? - 🧠 ANSWER ✔✔Inputs
What kind of sector do forestry businesses operate in? - 🧠 ANSWER
✔✔Primary sector
What does the SMART acronym of business objectives stand for? - 🧠
ANSWER ✔✔Specific
Measurable
Agreed
Realistic
Timely
Which type of costs don't change with a business' output? - 🧠 ANSWER
✔✔Fixed costs
What is a sole trader? - 🧠 ANSWER ✔✔A single person who is the
exclusive owner of a business.
What is the term used to describe the lack of distinction between a sole
trader's assets and their business' assets? - 🧠 ANSWER ✔✔Unlimited
liability
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
4
STATEMENT. ALL RIGHTS RESERVED
