GCSE Theme 1 Recap

GCSE Theme 1 Recap

9th - 10th Grade

45 Qs

quiz-placeholder

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GCSE Theme 1 Recap

GCSE Theme 1 Recap

Assessment

Quiz

Business

9th - 10th Grade

Practice Problem

Medium

Created by

Oliver Hylands

Used 1+ times

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45 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a purpose of business activity?

To reduce unemployment
To produce goods and services
To regulate the economy
To collect taxes

Answer explanation

Businesses exist to produce goods and services to meet customer needs.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An entrepreneur is best described as someone who:

Works for a large business
Runs their own business and takes risks
Provides government funding
Works without pay

Answer explanation

Entrepreneurs take risks and organise resources to run their own businesses.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a fixed cost?

Factory rent
Raw materials
Delivery costs per mile
Packaging per unit

Answer explanation

Fixed costs, such as rent, do not change with output.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Market research that uses government statistics is:

Primary research
Secondary research
Qualitative research
Field research

Answer explanation

Government statistics are secondary data, collected by others.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is a financial objective?

Survival
Customer satisfaction
Growth
Social responsibility

Answer explanation

Growth is a financial objective focused on increasing sales or revenue.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The formula for calculating profit is:

Sales revenue – variable costs
Sales revenue – total costs
Total costs – sales revenue
Sales revenue × units sold

Answer explanation

Profit is calculated as sales revenue minus total costs.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a USP (unique selling point)?

Reducing prices
A feature that makes a product different
Increasing promotion
Expanding distribution channels

Answer explanation

A USP makes a product stand out from competitors.

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