AQA A-LEVEL BUSINESS BUNDLED EXAMS questions 100% correct answers

Marketing - correct answer Meeting the needs and wants of customers Venture Capital - correct answer finance that is provided to a small/medium sized business which seeks growth, but may be considered high risk. Monopoly - correct answer In theory a single producer, but in reality a company...

What are common business objectives? - correct answer Profit Growth Survival Cash flow Social Ethical Objectives should be "SMART". What does this mean? - correct answer They should be: Specific Measurable Agreed Realistic Time related What is a mission statement? - correct ans...

Economies of Scale - correct answer Factors that cause costs per unit to fall as production increases Franchise - correct answer A business that sells the rights to use its name and trading methods Generic Brand - correct answer A brand that is so famous that people use its name instead of ...

A physical product such as a house or designer suit - correct answer Good An intangible item such as insurance or decorating - correct answer Service A more general term which includes goods and services - correct answer Product Measures the total value of the production of an economy ov...

Ansoff's Matrix - correct answer Shows the strategies that a firm can use to expand, according to how risky they are Assets - correct answer Resources owned by a business Balance sheet - correct answer A snapshot of a firm's finances at a particular time Barrier to entry - correct ans...

Key issues with different forms of business - correct answer Unlimited/ limited liability, Ordinary share capital, Market capitalisation and Dividends. Budgets - correct answer Agreed ceiling on the monthly spending by any department or manger. Corporate Objectives - correct answer Targets ...

mass market - correct answer a market that targets a large segment - products are standardised niche market - correct answer a market that targets a small segment - customers have specific needs that aren't catered by the mass market brand name - correct answer a name, sign, symbol or othe...

What is a business objective? Why is one needed? - correct answer - It is a goal for the entire organisation - They guide the actions of those withing the business What are the main objectives a business might have? (There are 8) - correct answer - Growth - Reduction of risks / diversificat...