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AQA GCSE Business Studies Paper 2 COMPLETED, WELL ANSWERED AND GRADED A+_.pdf
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AQA GCSE Business Studies Paper 2 COMPLETED, WELL ANSWERED AND GRADED A+_.pdf
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9/11/24, 3:21 AMAQA GCSE Business Studies Paper 2
Jeremiah
Practice questions for this set
Terms in this set (165)
Aim The intention to reach a goal.
Asset Something the business owns; it has a value.
The presence or introduction of harmful substances into the air causing disease,
Air pollution
allergies or damage to humans, animals, plants or the built environment.
A method of communicating information about the product; the business pays for
Advertising
advertising time/space.
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Laws designed to ensure that businesses make products that are safe and of good
Consumer law
quality, and that they deal with customers honestly and fairly.
The consumers' perception of the brand; its character, qualities and shortcomings. It is
Brand image developed over time and operates as a consistent theme through advertising
campaigns.
Average rate of return The average profit for the year as a percentage of the original investment.
A detailed statement of how the business intends to operate, either at start-up or
Business plan
during a given period of time.
Competition The rivalry between businesses looking to sell their goods/services in the same market.
The money spent by households on goods and services to satisfy their needs and
Consumer spending
wants.
The route the ownership of the product transfers from the seller to the buyer; it may be
Channels of distribution a single transaction or pass through others such as wholesalers, distributors, agents and
retailers.
A diagrammatic representation of the costs and revenue for a product; it plots total
Break-even chart
costs against total sales revenue, showing the break-even point where they cross.
The point at which the business' total sales equals the total costs. There is neither profit
Break-even output
nor loss.
Cost The money spent by a business on goods and services.
Competitive pricing Setting the price of a product so that it is in line with competitors' prices.
A legal document that sets out the terms and conditions of the job for the employer
Contracts of employment
and the employee.
Individuals, businesses or organisations that purchase goods/services and make
Customer
decisions about which supplier to choose.
The removal, storage or destruction of unwanted material. Methods include recycling,
Disposal of waste
burning and landfill sites.
Setting the price of a good or service at an amount higher than the cost of producing it
Cost-plus pricing
so that a profit is made.
Cash Money that the business has in cash or at the bank.
A financial planning tool that estimates the money coming into and going out of the
Cash flow forecast business on a month-by-month basis; it allows the business to predict times when
additional finance may be needed to maintain liquidity.
The relationship between the business and the customer that puts the customer's
Customer engagement
requirements at the centre of the operation to build brand loyalty.
E-commerce Business transactions carried out electronically on the internet
Whether customers are pleased with the goods/services they receive; whether they
Customer satisfaction
would purchase again.
The quantity of a particular product that will be bought at particular price over a
Demand
specific time.
Methods that can be used to prolong the life of a product; could include price
Extension strategies
reductions, modifications to the product or relaunch.
Cash inflow Money received by the business from its operations or investments.
Rulings that relate to the rights and responsibilities of people who work for a business;
Employment law they affect the recruitment and selection process and how the business deals with its
AQA GCSE Business Studies Paper 2
workers.
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