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EDEXCEL IGCSE BUSINESS STUDIES EXAM LATEST UPDATE 2024/2025 QUESTIONS AND ANSWERS GRADED A+
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EDEXCEL IGCSE BUSINESS STUDIES EXAM LATEST UPDATE 2024/2025 QUESTIONS AND ANSWERS GRADED A+
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EDEXCEL IGCSE BUSINESS STUDIES EXAMLATEST UPDATE 2024/2025 QUESTIONS
AND ANSWERS GRADED A+
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 sellers.
Anti-competitive practices or restrictive trade practices -
✔✔ANSWER✔✔-An attempt by firms to prevent or
restrict competition.
Assets - ✔✔ANSWER✔✔-Resources used or owned by
the business in production.
Assisted areas - ✔✔ANSWER✔✔-Areas that are
designated as having economic problems by the UK or EU
and are eligible for support in a variety of forms.
Auditing - ✔✔ANSWER✔✔-An accounting procedure
which checks thoroughly the accuracy of a company's
accounts.
,Authority - ✔✔ANSWER✔✔-The right to command and
make decisions.
Balance of trade or visible balance - ✔✔ANSWER✔✔-The
difference between visible exports and visible imports.
Balance sheet - ✔✔ANSWER✔✔-A summary at that time
of business assets, liabilities and capital.
Cost plus or cost-based pricing - ✔✔ANSWER✔✔-Adding
a percentage (the mark-up) to the costs of producing a
product to get the price.
Costs - ✔✔ANSWER✔✔-Expenses that must be met
when setting up and running a business.
Current assets - ✔✔ANSWER✔✔-Assets likely to be
changed into cash within a year.
, Current liabilities - ✔✔ANSWER✔✔-Debts that have to
be repaid within a year.
Current ratio - ✔✔ANSWER✔✔-Assesses the firm?s
liquidity by dividing current liabilities into current assets.
Curriculum vitae - ✔✔ANSWER✔✔-A document used by
a job seeker which lists personal details, qualifications,
work experience, referees and other details.
Barriers to entry - ✔✔ANSWER✔✔-Obstacles that make
it difficult for new firms to enter a market.
Batch production - ✔✔ANSWER✔✔-A method which
involves completing one operation at a time on all units
before performing the next.
Below-the-line promotion - ✔✔ANSWER✔✔-Any
promotion that does not involve using the media.
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