Gcse business studies Study guides, Class notes & Summaries

Start-up capital correct answers The initial investment of capital in a business. Working capital correct answers The finance needed by a business to pay its day-to-day costs, for example, wages, raw materials and electricity. Capital expenditure correct answers The money spent on fixed assets. Revenue expenditure correct answers The money spent on day-to-day expenses. Short-term finance correct answers This type of finance includes any source of finance with a maturity of one year o...

EDEXCEL GCSE Business Studies 1bs0 02 marking scheme may-june 2024

EDEXCEL GCSE Business Studies 1bs0 01 marking scheme may-june 2024

Chapter 8 | IGCSE Business Studies Internal Recruitment Filling a vacant position with someone already employed in the business 4 advantages of Internal Recruitment 1. Vacancy can be filled quickly 2. Applicants already know how the business works 3. The business already knows the strengths and weaknesses of applicants 4. Employees are motivated by the chance for promotion 4 limitations of internal recruitment 1. Better candidate may be outside the business, 2. Conflict can occur betwe...

EDEXCEL IGCSE BUSINESS STUDIES EXAM LATEST UPDATE 2024/2025 QUESTIONS AND ANSWERS GRADED A+

Full summary notes for IGCSE/O-Level business studies syllabus, written based on the textbook 'Cambridge IGCSE and O Level Business Studies 5th edition by Karen Borrington Peter Stimpson [Borrington, Karen Stimpson, Peter' however well suited for other O-level equivalent subjects as well as future syllabus. These notes were written by me throughout the 2 years I studied Business studies for the IGCSE Business Studies (0450) examinations and were extensively developed during my revision and lea...

QUESTIONS AND ANSWERS

Market share - ANS-The proportion of total market sales sold by one business Economies of scale - ANS-The reasons why average costs of each item falls as a firm expands Organic growth - ANS-Expansion from within the business e.g. by opening more shop branches

Business - Answer An organisation which produces goods and services Consumer goods - Answer Goods and services sold to ordinary people rather than businesses Entrepreneurs - Answer People who take risk and set up businesses Goods - Answer Physical products like a mobile phone, packet of crisps or a pair of shoes Services - Answer Non-physical products like banking, car washing and waste disposal Needs - Answer Basic requirements for human survival Private sector - A...

Motivation - Answer Workers want to work hard and effectively for their employer. Wage - Answer Payment for work, usually paid weekly. Time rate - Answer Wage based on number of hours worked. Piece rate - Answer Wage based on number of unit of output produced. Salary - Answer Payment for work, usually paid monthly. Commission - Answer Payment based of number of units sold. Profit Sharing - Answer Payment to employees based on a share of the profits of the business...