Business A level ED EXECEL EXAM QUESTIONS
WITH CORRECT ANSWERS.
1.1.3 - CORRECT ANSWERS✔✔
1.1.5 - CORRECT ANSWERS✔✔
1.2.1 - CORRECT ANSWERS✔✔
1.2.2 - CORRECT ANSWERS✔✔
1.2.3 - CORRECT ANSWERS✔✔
1.2.4 - CORRECT ANSWERS✔✔
1.2.6 - CORRECT ANSWERS✔✔
1.2.7 - CORRECT ANSWERS✔✔
1.3.1 - CORRECT ANSWERS✔✔
2.1.1 managers - CORRECT ANSWERS✔✔
2.1.2 tannenbaum and Schmidt theories on management - CORRECT ANSWERS✔✔
2.2 understanding management decision making - CORRECT ANSWERS✔✔2.2.1
,2.2.2 intuition decision making (FLIP) - CORRECT ANSWERS✔✔Managers do not use data to inform their
decision but instead use gut instinct
2.2.3 influences on decision making (FLIP) - CORRECT ANSWERS✔✔Factors:
-levels of risk and uncertainty
-rewards for managers
-opportunity costs
-data available
-reliability of data
-managers experience
2.3.1 understanding stake holders - CORRECT ANSWERS✔✔
3.1.1 setting marketing objectives - CORRECT ANSWERS✔✔
3.2.1 market calculations - CORRECT ANSWERS✔✔
4 factors which affect pricing decisions - CORRECT ANSWERS✔✔Costs
Products life cycle ( if introduced it may charge higher price visa versus)
Nature of product
Degree of competition
4Ps of Marketing - CORRECT ANSWERS✔✔Product, Price, Place, Promotion
A question mark - CORRECT ANSWERS✔✔low market share, high market growth
A star product - CORRECT ANSWERS✔✔high market growth, high market share
, advantage/disadvantage of franchising - CORRECT ANSWERS✔✔Ad:
-the business can expand without needing large amounts of investment
-less risk of diseconomies of scale
-increase brand awareness.
-faster growth
Dis:
-franchiser does not have complete control over how they operate
-if a franchise is run badly it can have a bad affect on business and affect brand image
Advantages and disadvantages of plc - CORRECT ANSWERS✔✔Adv:
-selling shares allows companies to raise money for investments.
-much easier for companies to raise capital from banks as it prevents less risk
-shareholders have limited liability
Dis:
-owners have very little say over how the business is run which can lead to conflict
-anyone can take over business if they buy enough shares (more than half)
-company's accounts must be public so competitors can see
advantages and disadvantages of private limited company - CORRECT ANSWERS✔✔Adv.
-Easier to raise larger sums of capital,
-limited liability
-owners keep a lot of control over how a business is managed
-easier to get loans
Dis.
-Can only sell shares privately,
-not as much flexibility
WITH CORRECT ANSWERS.
1.1.3 - CORRECT ANSWERS✔✔
1.1.5 - CORRECT ANSWERS✔✔
1.2.1 - CORRECT ANSWERS✔✔
1.2.2 - CORRECT ANSWERS✔✔
1.2.3 - CORRECT ANSWERS✔✔
1.2.4 - CORRECT ANSWERS✔✔
1.2.6 - CORRECT ANSWERS✔✔
1.2.7 - CORRECT ANSWERS✔✔
1.3.1 - CORRECT ANSWERS✔✔
2.1.1 managers - CORRECT ANSWERS✔✔
2.1.2 tannenbaum and Schmidt theories on management - CORRECT ANSWERS✔✔
2.2 understanding management decision making - CORRECT ANSWERS✔✔2.2.1
,2.2.2 intuition decision making (FLIP) - CORRECT ANSWERS✔✔Managers do not use data to inform their
decision but instead use gut instinct
2.2.3 influences on decision making (FLIP) - CORRECT ANSWERS✔✔Factors:
-levels of risk and uncertainty
-rewards for managers
-opportunity costs
-data available
-reliability of data
-managers experience
2.3.1 understanding stake holders - CORRECT ANSWERS✔✔
3.1.1 setting marketing objectives - CORRECT ANSWERS✔✔
3.2.1 market calculations - CORRECT ANSWERS✔✔
4 factors which affect pricing decisions - CORRECT ANSWERS✔✔Costs
Products life cycle ( if introduced it may charge higher price visa versus)
Nature of product
Degree of competition
4Ps of Marketing - CORRECT ANSWERS✔✔Product, Price, Place, Promotion
A question mark - CORRECT ANSWERS✔✔low market share, high market growth
A star product - CORRECT ANSWERS✔✔high market growth, high market share
, advantage/disadvantage of franchising - CORRECT ANSWERS✔✔Ad:
-the business can expand without needing large amounts of investment
-less risk of diseconomies of scale
-increase brand awareness.
-faster growth
Dis:
-franchiser does not have complete control over how they operate
-if a franchise is run badly it can have a bad affect on business and affect brand image
Advantages and disadvantages of plc - CORRECT ANSWERS✔✔Adv:
-selling shares allows companies to raise money for investments.
-much easier for companies to raise capital from banks as it prevents less risk
-shareholders have limited liability
Dis:
-owners have very little say over how the business is run which can lead to conflict
-anyone can take over business if they buy enough shares (more than half)
-company's accounts must be public so competitors can see
advantages and disadvantages of private limited company - CORRECT ANSWERS✔✔Adv.
-Easier to raise larger sums of capital,
-limited liability
-owners keep a lot of control over how a business is managed
-easier to get loans
Dis.
-Can only sell shares privately,
-not as much flexibility
