Business Study guides, Class notes & Summaries

Business Final Exam Questions and Answers 2024

A business is able to reduce unit costs because of lessons learnt throughout the period it has existed. This is known as: A economies of scale. B economies of scope. C synergy. D the experience curve. : D the experience curve The managers of a business propose to retain all of its profit to finance automation of a business is able to reduce unit costs because of lessons learned throughout the its production. This is most likely to cause conflict with: A employees and lenders. B e...

BUSINESS CASE Identify a project that is of interest to you. The best source would be through a general internet search and/or local media sources. When selecting a project of interest to you, avoid picking one that is either too big or too small. For example, do not decide to build a new stadium for your local sports team (too big) or to plant your summer garden (too small). Select a project that you can relate to and have some experience with or that may be ongoing or recently complete...

Multiple Choice Questions Question Number Answer 1.1 A It can issue shares 1.2 C Packaging 1.3 C Items are produced individually to meet the exact requirements of a customer. 1.4 B They keep the job role along with someone else. 1.5 C Improved staff communication. 1.6 B Businesses need to reduce production to match sales. Identify two stakeholders of a business. [2 marks] Marks for this question: AO1 – 2 marks 1 mark for identifying a stakeholder x 2. Possible answers ...

Business Exam #1 Questions & Answers 2023/2024 Free enterprise - ANSWER-the system of business in which individuals are free to decide what to produce, how to produce it, and at what price to sell it Free enterprise example - ANSWER-A can sell everything from televisions, toys, and tools to computers, cameras, and clothing Why to study business? - ANSWER-For help in choosing a career To be a successful employee To improve your management skills To start your own business To become...

Business- Exam 20 Questions & Answers 2023/2024 How do businesses affect communities? - ANSWER-Businesses affect communities by putting money into them. Taxes that businesses pay stay in the community and therefore benefit the little economy. Explain the difference between entrepreneurial resources and labor resources. - ANSWER-Entrepreneurial resources are things like capital lines of credit, financing. On the other hand, labor resources are the resources of available manpower. What ...

PEARSON EDEXCEL LEVEL 1 & 2 GCSE JUNE 2023 BUSINESS 1BSO PAPER 1 Questions

BUSINESS EXAM - REVISION - 10/01/2022 QUESTIONS & ANSWERS 1) Which of the following would be classified as an internal stakeholder of a private limited company? - ANSWER-directors 2) A business operated by a sole trader has; - ANSWER-one owner 3) A public limited company; - ANSWER-can sell its shares on the stock exchange 4) Which of the following functional areas of a business is most likely to be responsible for producing a radio advertisement to raise awareness of its new p...

An employee resists change because it will not help her personally. The business overcomes her resistance by offering her a role in managing the change. This is an example of using: [1 mark] A coercion to overcome fear and misunderstanding. B coercion to overcome self-interest. C manipulation to overcome fear and misunderstanding. D manipulation to overcome self-interest. : manipulation to overcome self-interest. Statement 1: 'A prediction based on a strong, negative correlation will ...

PEARSON EDEXCEL LEVEL 1 & 2 GCSE JUNE 2023 BUSINESS 1BSO PAPER 2 Questions