Gcse business studies Study guides, Class notes & Summaries

Need - Answer A good or service that is essential for people's living Want - Answer A good or service which people want to have, not essential Economic problem - Answer When wants exceed the resource available to make scarcity Scarcity - Answer when there are unlimited wants but limited resources Factors of Production (4) - Answer Land, labor, capital, enterprise Opportunity cost - Answer The next best alternative choice given up as another was chosen Specializatio...

Above-the-line promotion - correct answer Placing adverts using the media. Acid test ratio - correct answer Similar to the current ratio but excludes stocks from current assets. Sometimes called the quick ratio. Advertising - correct answer Communication between a business and its customers whereby messages are placed in the media to encourage the purchase of products. Agent or broker - correct ...

Aim - correct answer The intention to reach a goal. Asset - correct answer Something the business owns; it has a value. Air pollution - correct answer The presence or introduction of harmful substances into the air causing disease, allergies or damage to humans, animals, plants or the built environment. Advertising - correct answer ...

Cambridge IGCSE Business Studies 5th edition Hodder Education

iGCSE Business Studies Questions and Answers | Latest Version | 2024/2025 | 100% Pass What is the definition of a business? A business is an organization that provides goods or services to customers in exchange for money. What are the main objectives of a business? The main objectives of a business typically include making a profit, increasing market share, and providing quality products or services. What is the difference between goods and services? Goods are tangible produc...

EDEXCEL GCSE Business Studies 1bs0 01 question paper may-june 2024

EDEXCEL GCSE Business Studies 1bs0 02 question paper may-june 2024

QUESTIONS AND ANSWERS

EDEXCEL IGCSE Business Studies Exam Questions & Answers 2023 Above-the-line promotion - ANSWER-Placing adverts using the media. Acid test ratio - ANSWER-Similar to the current ratio but excludes stocks from current assets. Sometimes called the quick ratio. Advertising - ANSWER-Communication between a business and its customers whereby messages are placed in the media to encourage the purchase of products. Agent or broker - ANSWER-An intermediary that brings together buyers and seller...