Business A level ED EXECEL EXAM QUESTIONS WITH CORRECT ANSWERS

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