IGCSE Business Studies: Business Activity Exam 2025 ACTUAL EXAM COMPLETE 50
QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS)
ALREADY GRADED A+
1. Need a good or service which is essential to living
2. Want a good or service which people would like, but is
not
essential for living
3. Factors of the four categories of resources that are used to
Pro- duction produce goods and services: land, labour, capital,
enterprise
4. Scarcity there are not enough goods and services to meet
the
wants of the population
5. Opportunity Cost the benefit that could have been gained from an
alternative use of the same product
To get this or any other Exam contact ()
,IGCSE Business Studies: Business Activity Exam 2025 ACTUAL EXAM COMPLETE 50
QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS)
ALREADY GRADED A+
6. Specialisation people and business concentrate on what they are
best at
To get this or any other Exam contact ()
, IGCSE Business Studies: Business Activity Exam 2025 ACTUAL EXAM COMPLETE 50
QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS)
ALREADY GRADED A+
7. Goods tangible products that can be seen and touched
and are sold to the consume such as food,
computers
8. Services non-tangible products, things other people do for
you such as insurance services, transport
9. Added Value the difference between the selling price of a
product and the cost of raw materials used to
make it
10. Division of It is when the production process is split up into
Labour different tasks and each worker performs one of
these tasks. It is a form of specialization.
11. Primary Sector It extracts and uses the natural resources of the
earth to produce raw materials used by other
businesses.
To get this or any other Exam contact ()
QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS)
ALREADY GRADED A+
1. Need a good or service which is essential to living
2. Want a good or service which people would like, but is
not
essential for living
3. Factors of the four categories of resources that are used to
Pro- duction produce goods and services: land, labour, capital,
enterprise
4. Scarcity there are not enough goods and services to meet
the
wants of the population
5. Opportunity Cost the benefit that could have been gained from an
alternative use of the same product
To get this or any other Exam contact ()
,IGCSE Business Studies: Business Activity Exam 2025 ACTUAL EXAM COMPLETE 50
QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS)
ALREADY GRADED A+
6. Specialisation people and business concentrate on what they are
best at
To get this or any other Exam contact ()
, IGCSE Business Studies: Business Activity Exam 2025 ACTUAL EXAM COMPLETE 50
QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS)
ALREADY GRADED A+
7. Goods tangible products that can be seen and touched
and are sold to the consume such as food,
computers
8. Services non-tangible products, things other people do for
you such as insurance services, transport
9. Added Value the difference between the selling price of a
product and the cost of raw materials used to
make it
10. Division of It is when the production process is split up into
Labour different tasks and each worker performs one of
these tasks. It is a form of specialization.
11. Primary Sector It extracts and uses the natural resources of the
earth to produce raw materials used by other
businesses.
To get this or any other Exam contact ()
