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IGCSEEdexcel
Business Studies
Exam Questions
Financial business objectives: survival, profit, sales, market share, financial securityNewNon-financial business objectives: social aims, satisfaction, challenge, independence, controlNewWhy business objectives change as a business evolvesNewSole traders: key features, pros and consNewPartnerships: key features, pros and consNewPrivate limited companies: key features, pros and consNewPublic limited companies: key features, pros and consNewPublic corporations: reasons for and against public ownershipNewRisk, ownership and limited liability: what they mean in practiceNewOwnership vs control in different business formsNewStakeholders and shareholders: who they are and why they matterNewChoosing the most appropriate form of ownership for a business scenarioNewFranchises: what they are and why firms use themNewSocial enterprises: purpose and how they operateNewMultinationals: what they are and why firms become multinationalsNewPrimary sector: what it is, typical businesses and examplesNewSecondary sector: what it is, typical businesses and examplesNewTertiary sector: what it is, typical businesses and examplesNewLocation factors: proximity to market, labour, materials and competitorsNewLocation decisions and relocation: how business activity affects the decisionNewImpact of the internet on location: e-commerce vs fixed premisesNewLocation and the external environment: legal controls and trade blocsNewGlobalisation: what it is and why it happensNewGlobalisation: opportunities and threats for businessesNewMultinationals: benefits to the businessNewMultinationals: benefits to a host country/economyNewMultinationals: possible drawbacks to a host country/economyNewExchange rates: calculating exchange rates (worked method)NewExchange rates: impact on international competitivenessNewExchange rates: impact on importers and exportersNewGovernment spending: why governments spend and limits on spendingNewHow government affects business activity: infrastructure provisionNewHow government affects business activity: legislationNewTrade policy: trading blocs and tariffsNewInterest rates: effects on businessesNewInterest rates: effects on consumer spendingNewExternal factors: social influences on business decisionsNewExternal factors: technological influences on business decisionsNewExternal factors: environmental influences on business decisionsNewExternal factors: political influences on business decisionsNewMeasuring business success: revenueNewMeasuring business success: market shareNewMeasuring business success: customer satisfactionNewMeasuring business success: profitNewMeasuring business success: growthNewMeasuring business success: owner/shareholder satisfactionNewMeasuring business success: employee satisfactionNewReasons for business failure: cash flow problems and lack of financeNewReasons for business failure: not competitiveNewReasons for business failure: failure to adapt to market changesNew
Why effective communication matters in businessNewInternal communication: purposes and examplesNewExternal communication: purposes and examplesNewCommunication methods (including IT): choosing the right methodNewBenefits and limitations of different communication methodsNewHow communication barriers ariseNewProblems caused by ineffective communicationNewHow to remove communication barriersNewTypes of employment: full-time and part-timeNewTypes of employment: flexitime and zero-hours contractsNewTypes of employment: job shareNewTypes of employment: casual, seasonal and temporaryNewRecruitment documents: job descriptionNewRecruitment documents: person specificationNewRecruitment documents: application formNewRecruitment documents: CV/résuméNewInternal recruitment: advantages and disadvantagesNewExternal recruitment: advantages and disadvantagesNewRecruitment process: job advertisementNewRecruitment process: shortlistingNewRecruitment process: interviewingNewLegal controls: equal opportunities (protected characteristics)NewLegal controls: minimum wage laws and their effectsNewWhy training matters for the business and for workersNewInduction training: purpose and examplesNewOn-the-job training: purpose, benefits and limitationsNewOff-the-job training: purpose, benefits and limitationsNewTraining and compliance with health and safety lawsNewMotivation: why it matters (attracting, retaining, productivity)NewTaylor’s view of motivation (scientific management)NewMaslow’s hierarchy of needs (workplace application)NewHerzberg’s two-factor theory (workplace application)NewFinancial motivation: remunerationNewFinancial motivation: bonus and commissionNewFinancial motivation: promotion and fringe benefitsNewNon-financial motivation: job rotation and job enrichmentNewNon-financial motivation: autonomyNewOrganisational structures: hierarchical vs flatNewOrganisational structures: centralised vs decentralisedNewSpan of control: what it is and why it mattersNewChain of command: what it is and why it mattersNewDelegation: what it is and when it works wellNewFunctional areas: human resources (what HR does)NewFunctional areas: finance (what the finance function does)NewFunctional areas: marketing (what the marketing function does)NewFunctional areas: production/operations (what operations does)New
Why businesses need finance: short-term needsNewWhy businesses need finance: long-term needsNewFinance for start-up vs finance for expansionNewInternal finance: personal savingsNewInternal finance: retained profitNewInternal finance: selling assetsNewExternal finance: overdrafts and trade payablesNewExternal finance: loans (loan capital)NewExternal finance: share capital and stock market flotationNewExternal finance: venture capitalNewExternal finance: crowdfundingNewWhy cash is vital: paying suppliers, overheads and employeesNewCash vs profit: spotting the difference in exam questionsNewCash-flow forecasts: cash inflowsNewCash-flow forecasts: cash outflowsNewCash-flow forecasts: net cash flowNewCash-flow forecasts: opening and closing balancesNewInterpreting a cash-flow forecast to identify problems and solutionsNewRevenue: what it is and how to calculate itNewFixed costs vs variable costs (with business examples)NewTotal costs: how to calculate and interpretNewProfit and loss: calculating profit and understanding lossesNewBreak-even: what it means for a businessNewBreak-even output: calculating using a formulaNewBreak-even output: finding it from a break-even diagramNewInterpreting break-even charts: margin of safety and profit/loss areasNewBreak-even changes: impact of changing revenueNewBreak-even changes: impact of changing costsNewLimitations of break-even charts: why results aren’t always reliableNewStatement of comprehensive income: what it is used forNewIncome statement features: sales, cost of sales and gross profitNewIncome statement features: expenses and operating profitNewUsing an income statement for decision making (no construction)NewProfit: what it is, why it matters, and how it differs from revenueNewStatement of financial position: what it is used forNewBalance sheet features: current and non-current assetsNewBalance sheet features: current and non-current liabilitiesNewCapital employed: what it representsNewInterpreting a statement of financial position (no construction)NewGross profit margin: calculating and interpretingNewOperating profit margin: calculating and interpretingNewMarkup: calculating and interpretingNewROCE: calculating and interpretingNewCurrent ratio: calculating and interpretingNewAcid test ratio: calculating and interpretingNewLiquidity: what it means and why it mattersNewComparing ratios over time and against other businessesNewUsing financial documents to assess performance and make decisionsNew
Why businesses do market research: needs, gaps, risk reduction, decisionsNewPrimary research: surveysNewPrimary research: questionnairesNewPrimary research: focus groupsNewPrimary research: observationNewPrimary research: test marketingNewSecondary research: internet sources (benefits and risks)NewSecondary research: market reportsNewSecondary research: government reportsNewQualitative vs quantitative data in market researchNewUsing social media to collect market research dataNewReliability of market research data: bias, sample size, outdated dataNewWhy marketing matters: satisfying customer needsNewBuilding customer relationships and customer loyaltyNewMarket orientation vs product orientationNewMarket share: meaning and basic analysisNewNiche marketing vs mass marketingNewResponding to changing customer needsNewResponding to changing customer/consumer spending patternsNewResponding to increased competitionNewMarket segmentation: why businesses segment marketsNewSegmenting by location: geographic segmentationNewSegmenting by demographicsNewSegmenting by lifestyle: psychographic segmentationNewSegmenting by incomeNewSegmenting by ageNewTargeting: choosing a segment and justifying the choiceNewProduct: developing a new product or serviceNewGoods vs services: key differences for marketing decisionsNewPackaging: why it matters (protection, branding, information)NewProduct life cycle: the main stagesNewProduct life cycle: extension strategies (how firms extend sales)NewManaging a product portfolio: Boston Matrix basicsNewPrice: cost-plus pricingNewPrice: penetration pricingNewPrice: competition pricingNewPrice: price skimmingNewPrice: promotional pricingNewPlace: distribution channels and choosing methods of distributionNewRetailers as a distribution channelNewE-tailers and e-commerce as a distribution channelNewPromotion strategies: advertisingNewPromotion strategies: sponsorshipNewPromotion strategies: product trials and special offersNewPromotion strategies: branding as promotionNewAbove-the-line vs below-the-line promotionNewPublic relations: improving company image and brandNewTechnology in promotion: targeted online advertisingNewTechnology in promotion: viral advertising via social mediaNewTechnology in promotion: e-newslettersNewBrands: why branding is valuable to a businessNew
Economies of scale: what they are and why average costs fallNewInternal economies of scale: examples (purchasing, technical, managerial, financial)NewExternal economies of scale: what they are and examplesNewDiseconomies of scale: what they are and why growth can create problemsNewLimits of growth: when bigger stops being betterNewProduction methods: job productionNewProduction methods: batch productionNewProduction methods: flow productionNewLabour-intensive vs capital-intensive production: how to tell the differenceNewChoosing a production method: impact on cost, quality and flexibilityNewProductivity: what it is and how to calculate itNewProductivity improvements: how higher productivity affects a businessNewLean production: what it is and why it mattersNewJust-in-time (JIT): how it works and risksNewKaizen: continuous improvement in practiceNewUsing resources effectively: reducing waste and improving efficiencyNewTechnology in production: robotics and automationNewBalancing cost, productivity, quality and flexibility in operations decisionsNewFactors of production: enterprise (role of the entrepreneur)NewFactors of production: land, labour and capital (roles and examples)NewChanging relationships between enterprise, capital, land and labourNewQuality: what “quality” means for goods and servicesNewQuality control: how it works and when it’s usedNewTotal quality management (TQM): whole-business approach to qualityNewQuality and competitive advantage: why quality can help win customersNew
What Paper 1 tests: investigating small businesses (using context)NewWhat Paper 2 tests: investigating large businesses (using context)NewUsing data and information sources to support analysis and judgementNewCommand words: calculate, analyse, discuss, evaluate (what each needs)NewBuilding strong evaluation: balanced arguments and justified decisionNewFull marks on calculations: show workings, state units, clear answersNew
