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Business GCSE Unit 1
Game Code: 326407
English
28
Public
Revision of Business studies unit 1
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True or False: businesses are only set up to make money?
False they can also be for a social benefit like a charity
15
what is an entrepreneur
Someone who starts or runs a business
15
What are the 4 factors of production
land, labour, capital and enterprise
25
what is opportunity cost
The benefit that is given up to do something else
15
Give an example of opportunity cost
given according to teacher satisfaction
15
Where does a PLC sell their shares
on the stock market
15
How many people are in a partnership
2-20
15
True or False: not-for-profit organisations don't need to generate any income
False - they don't generate profit
15
True or false: most business that sell shares on the stock market are sole traders
False: Sole traders is one owner no shares are sold
15
What is a Business aim
is a long term goal
15
What is a business objective
A short term goal
15
What is a stakeholder
anyone who is affected by the business
15
True or False: All shareholders are stakeholders
True - all shareholders are affected by the business
15
True or False: Fixed costs vary with the output of the business
False - Fixed costs stay the same no matter how much is produced
15
What is revenue
All the money the business makes from sales
15
give 2 reasons for making a business plan
Answer according to teacher satisfaction
15
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