Business Studies BTEC Unit 1 Exam Questions with Verified Answers Latest Update 2025 Already
Passed
PARTNERSHIP - Answers Two or more people set up a business together and share all profits and losses
ECONOMY - Answers The wealth and resources of a country or region, especially in terms of the
production and consumption of goods and services.
LIABILITY - Answers An obligation of a company, or amounts owed to lenders and suppliers
FTSE - Answers Financial Times Stock Exchange
REVENUE - Answers The income received by a business for selling its products and services
MARKET FORCES - Answers Factors created by the economy for the demand and availability of products
and services which influence cost
STAKEHOLDER FEEDBACK - Answers Surveying stakeholders for ideas, compliments, suggestions and
complaints
REGULATOR - Answers External body acting as supervisor to ensure businesses comply with relevant
legislation
SHAREHOLDER VALUE - Answers The benefits received by shareholders relative to the number of shares
they hold in a business
CUSTOMER RETENTION - Answers Customers who remain loyal to specific brands and businesses
INFORMAL - Answers Less business-like, friendlier and could also mean ad hoc. Informal can refer to
information given verbally
FORMAL - Answers Business-like, factual, technical, professional, providing a record. It can refer to
writing, such as formal written feedback
BUREAUCRACY - Answers Detailed procedures which have to be followed (sometimes known as 'red
tape')
AUSTERITY - Answers The difficult economic conditions resulting from the government putting measures
in place to reduce public spending.
MULTI-COLLABORATIVE - Answers Collaborating with multiple partners
RETAIL - Answers The sale of goods, usually on a small scale, directly to the public for consumption
rather than resale.
PESTLE - Answers Political, Economic, Social, Technological, Legal, Environmental
FISCAL - Answers This relates to government revenue, for example from taxes.
Passed
PARTNERSHIP - Answers Two or more people set up a business together and share all profits and losses
ECONOMY - Answers The wealth and resources of a country or region, especially in terms of the
production and consumption of goods and services.
LIABILITY - Answers An obligation of a company, or amounts owed to lenders and suppliers
FTSE - Answers Financial Times Stock Exchange
REVENUE - Answers The income received by a business for selling its products and services
MARKET FORCES - Answers Factors created by the economy for the demand and availability of products
and services which influence cost
STAKEHOLDER FEEDBACK - Answers Surveying stakeholders for ideas, compliments, suggestions and
complaints
REGULATOR - Answers External body acting as supervisor to ensure businesses comply with relevant
legislation
SHAREHOLDER VALUE - Answers The benefits received by shareholders relative to the number of shares
they hold in a business
CUSTOMER RETENTION - Answers Customers who remain loyal to specific brands and businesses
INFORMAL - Answers Less business-like, friendlier and could also mean ad hoc. Informal can refer to
information given verbally
FORMAL - Answers Business-like, factual, technical, professional, providing a record. It can refer to
writing, such as formal written feedback
BUREAUCRACY - Answers Detailed procedures which have to be followed (sometimes known as 'red
tape')
AUSTERITY - Answers The difficult economic conditions resulting from the government putting measures
in place to reduce public spending.
MULTI-COLLABORATIVE - Answers Collaborating with multiple partners
RETAIL - Answers The sale of goods, usually on a small scale, directly to the public for consumption
rather than resale.
PESTLE - Answers Political, Economic, Social, Technological, Legal, Environmental
FISCAL - Answers This relates to government revenue, for example from taxes.
