Edexcel A-Level Business Theme 1 Practice Test

These questions are part of the practice quiz. Start practicing

• Which term means authority to pass down from superior to subordinate?
• The aspect or feature of a product that clearly distinguishes it from its rivals is known as what?
• Which term describes getting other businesses to undertake work that was previously done in-house?
• An attempt to sell as much as possible in a given time period
• Which term describes the continued feedback from a selected group of customers over time to guide product decisions?
• A company owned by shareholders whose shares can be traded openly on the stock market is a
• Which term best describes the process of moving goods to customers through various middlemen and routes?
• Which term describes actions aimed at reducing the amount of waste produced in production?
• What term describes a business that trades with the objective of improving human or environmental well-being?
• Which term refers to a diagram that shows the structure of job roles and reporting relationships in a business?
• Which concept refers to factors that increase job satisfaction, according to Herzberg?
• Which term denotes an organisation's attempt to communicate with interested parties?
• What term describes any strategy that encourages people to pass on messages to others about a product electronically?
• Which term describes the number of people a manager directly supervises?
• Setting a low price when launching a new product in order to get established in the market.
• Which term best describes the combination of product, price, place, and promotion used to meet customer needs?
• Which orientation focuses on consumer needs rather than production?
• Which term describes the degree to which demand responds to changes in income?
• Which term describes the broad set of activities aimed at creating value by meeting consumer needs profitably?
• Which statement is an example of a trade-off in business decisions?
• Payment methods that reward workers for the quantity and quality of work they produce are called?
• A business usually owned by private individuals backed by financial institutions is often a
• What is the amount of revenue generated from the sale of goods calculated by multiplying price by quantity in a given period?
• What is the term for a business model where a franchiser allows another operator to trade under their name?
• What term describes an advantage that enables a business to perform better than its rivals in the market?
• Which term describes the process of increasing the skills and knowledge of a worker to enable them to do their job more effectively?
• Where the percentage change in demand is proportionately less than the percentage change in income
• What is the term for a line on a graph showing how much of a good will be bought at different prices?
• Which term describes removing layers of management from the hierarchy?
• What term describes a name, sign, or symbol that identifies a business's goods and services and differentiates them from competitors?
• Which term describes the cost of forgoing the next best alternative when choosing to invest in new technology?
• What is the term for the proportion of total sales in a market for which one or more businesses or brands are responsible, expressed as a percentage?
• Trade-offs are best described as:
• Non-essential spending or spending that is not automatic
• What legal status protects owners so they are only liable up to the amount invested?
• Which term describes a very large market segment with broad appeal?
• The view consumers have about the quality, value for money and image of a product relative to competitors is known as what?
• Appointing workers from inside the business is called what?
• Which curve shows how much sellers are willing to supply at different prices?
• Which objective focuses on making as much money as possible in a given time period?
• Which management theory emphasizes a 'best way' to perform tasks and efficiency?
• Which concept shows the stages of a product's life and expected sales?
• Which description best fits a lifestyle business?
• Which term describes a business that buys goods from manufacturers and sells them in smaller quantities to retailers?
• Which term describes workers collaborating in teams to achieve a shared goal?
• Shows the different stages in the life of a product and the sales that can be expected at each stage.
• Which leadership style involves the leader making decisions but considering employee welfare?
• Which document shows clearly the tasks, duties and responsibilities expected of a worker for a particular job?
• Listening to the views of employees before making key decisions which affect them describes which term?
• What is the negotiation process between employers and employee representatives to determine work conditions called?
• What is the term for a set of arrangements that allows buyers and sellers to communicate and trade in a particular range of goods and services?
• Which term describes an organisation's attempt to communicate with interested parties?
• What a business tries to achieve in the long term
• Which theory differentiates between hygiene factors and motivators?
• In Herzberg's two-factor theory, factors that cause dissatisfaction if missing are called?
• Which term describes selling goods via online platforms?
• The amount of a product that suppliers make available to the market at any given price in a given period of time
• Which sector involves extracting natural resources such as minerals, oil, and lumber?
• Which term describes an approach to business that places the needs of consumers at the centre of the decision-making process?
• Which term describes removing levels of management from the hierarchy?
• Which term describes a company that is a separate legal entity from its owners?
• Any promotion that does not involve the media is known as?
• Which level in Maslow's hierarchy represents realising one's full potential?
• Which term describes extending a product's life through additional activities?
• A grant which is given to producers, usually to encourage production of a certain good
• What term describes the collection of data that already exists, also known as desk research?
• Opportunity cost is defined as
• Which leadership style enables managers to involve others in decision making?
• Which term best describes a two-dimensional diagram showing two attributes of a brand and rival brands for comparison?
• Which sector involves converting raw materials into finished or semi-finished goods?
• What is the term for the process of creating a new product or service?
• The quantity of a product bought at a given price over a given period of time is called what?
• Which pay method rewards workers based on output per item, commonly used in manufacturing?
• Which term refers to the retailing of goods online?
• The process of a company going public by offering shares to the public for the first time is called
• Which term best describes a business where ownership is shared among members who may be customers?
• Which term describes part of a market where a particular customer group has similar characteristics?
• Reducing the amount of resources that are discarded in the production process is called?
• An attempt by a business to distinguish its product from those of competitors is called what?
• What term describes products that only contain the name of the product category rather than the company or product name?
• Which term describes a form of industrial pressure when negotiations fail?
• Which statement demonstrates a trade-off when resources are limited?
• What is the term for the duty to complete a task?
• What term describes the practice of using the emotions of a consumer to build a brand?
• The price where supply and demand are equal
• Which pricing approach involves pricing a new product lower than competitors to gain early market share?
• Which pay system gives workers a share of the profits, typically as part of their pay?
• Groups of customers are asked for feedback about products over a period of time.
• A business organisation owned by its members, who all have equal voting rights
• Which process involves selecting staff from the existing employee pool to fill vacancies?
• Which term refers to granting employees official authority to decide and manage their own work?
• What term refers to a payment in addition to the basic wage for reaching targets or in recognition for service?
• In economic terms, items like refrigerators and cars that provide service over several years are known as
• The percentage added to unit cost that makes a profit for a business when setting the price.
• What training is provided to new employees when they first start a job?
• Which concept involves assigning tasks to others while retaining overall accountability?
• Which term refers to a set of plans that aim to achieve a specific marketing objective?
• A document that declares a business is allowed to trade as a limited company
• A binding legal document that states the formal rights of partners
• Which term refers to the portion of total market sales captured by one or more brands, expressed as a percentage?
• Setting a low price forcing rivals out of business.
• Communication between a business and its customers where images are placed in the media to encourage the purchase of products is known as?
• What term describes the position where supply is greater than demand at a given price and there are unsold goods in the market?
• Which term describes the degree to which demand changes when the price changes?
• Which type of business is designed to achieve social goals as well as operate for profit?
• What is the term for the price policy that adds a specific markup to cost to determine selling price?
• Which term describes the distribution of decision-making powers across units rather than at the centre?
• Which term describes a structured collection of data stored electronically that can be searched and sorted quickly?
• Which document records the constitution and external details of a limited company?
• Which term describes the range of features important when designing a product?
• Which term refers to the group of people selected to represent the larger market in research?
• What term describes making a financial contribution to an event in return for publicity?
• Which term describes the practice of choosing suppliers who respect the environment and workers?
• Which term describes conducting business transactions online?
• Which term refers to organisations formed to promote the interests of workers?
• Which leadership style is defined as making decisions while considering the welfare of employees?
• Which of the following best describes a sole trader?
• Which term refers to individuals who set up and run a business and take the risks associated with this?
• The position where demand is greater than supply at a given price and there are shortages in the market
• A legal status that makes the owner personally liable for all business debts is called
• What term describes products manufactured for wholesalers or retailers by other businesses?
• Which model analyses a product portfolio by market growth and relative market share?
• What do you call a group of products that are very similar?
• Which form of training occurs away from the workplace and is typically used to develop new skills?
• Which term describes making enough profit to satisfy the needs of the business owner(s)?
• Which term describes the practice of using the emotions of a consumer to build a brand?
• Which term refers to a business that trades under another company's brand while paying fees?
• Dividing a large quantity of goods received from a supplier before selling them in smaller quantities to customers describes which concept?
• Appointing workers from outside the business is known as what?
• Which term refers to the profile of the type of person needed for a particular job?
• The responsiveness of demand to a change in price
• Which document would a job applicant typically use to summarise education, qualifications and referees?
• Adding a percentage (the mark up) to the costs of producing a product to get the price.
• The collection of data that can be quantified is called what type of research?
• The gathering of new information which does not already exist is known as what?
• Which term describes training that takes place while performing the job?
• The process of increasing the skills of employees, often enabling them to perform a wider range of tasks, is called what?
• Goods that are purchased together because they are consumed together are known as what?
• A change in price results in a greater change in demand
• Which term describes an approach that places the emphasis upon the production process and the product itself?
• Which concept increases the scope of a job by adding duties at the same level to increase variety?
• Which leadership style encourages employees to make their own decisions within defined limits?
• Producers selling their products directly to consumers describes which practice?
• Which research method involves inviting customers to attend a discussion led by market researchers?
• The study of how people interact with their environment and the equipment they use in the workplace is known as?
• Which term is commonly used to describe a unique selling proposition that differentiates a product from competitors?
• In business, choosing between paying dividends and reinvesting profits is an example of?
• Goods that will have higher demand when consumer income rises.
• Which term describes promotional campaigns that rely on paid media placements?
• The passing of authority further down the managerial hierarchy is known as what?
• What describes a workforce that can adjust to changes in market demand?
• Which term describes the division of people according to social class?
• What are organisations of workers that exist to promote the interests of their members called?
• What process involves making a product stand out from competitors by emphasizing distinct features?
• Which term refers to the overall set of products a business markets?
• The responsiveness of demand to a change in price
• The collection of data about attitudes, beliefs and intentions is known as what type of research?
• Which term describes individuals or organisations who complete surveys?
• Which concept involves pursuing profit to meet the owner's needs but not necessarily maximize it?
• Which term describes the type of organisation where decision making is pushed down the chain and away from the centre?
• Which term refers to a business that sells goods in small quantities to consumers after purchasing them from manufacturers?
• Which term describes a structure where major decisions are made at the centre and passed down the chain of command?
• Which document outlines the qualifications and characteristics required for a role?
• The idea that workers are motivated by recognition given to them as a group is known as?
• What term describes a promotion specifically at the point of sale of a product?
• Which term refers to a diagram that shows the different job roles in a business and how they relate to each other?
• Which term describes organising people into working groups that share a common aim?
• An organised collection of data stored electronically with instant access, searching and sorting facilities.
• What term describes an attempt to obtain and retain customers by drawing their attention to a firm or its products?
• What is a concise description of a trade-off?
• The route taken by a product from the producer to the customer describes which concept?
• The use of electronic systems to sell goods and services describes which term?
• A market for second-hand shares is known as the
• Who are people in the hierarchy who work under the control of a senior worker?
• A smaller market, usually within a large market or industry.
• The percentage change in demand for a product is proportionately greater than the percentage change in income
• A contract that provides work on an as-needed basis without guaranteed hours is called?
• Which term describes a plan to achieve a marketing objective?
• What term refers to methods of promoting products in the short term to boost sales?
• Which statement about opportunity cost is true?
• Pricing strategies based on the prices charged by rivals.
• The production of services in the economy is associated with which sector?
• Expanding a worker's duties to include more tasks at the same level is known as?
• A small group of people who must represent a proportion of a total market when carrying out market research is called what?
• What term means changing the view consumers have about a product by altering some of its characteristics?
• Things at work that result in satisfaction are called?
• Goods that can be used repeatedly over a period of time, such as cars and household appliances
• The desire to take action to achieve a goal is described as?
• Production involving extraction of raw materials from the earth is part of which sector?
• Which term describes a group of products that are very similar?
• Which objective focuses on maximizing sales revenue in a set period?
• Which management process involves identifying, anticipating and satisfying consumer requirements profitably?
• Which term refers to individuals who start and run a business and take risks?
• What is the term for the right to command and make decisions?
• The periodic changing of jobs or tasks is called?
• Goods for which demand will rise if income rises or fall if income falls
• What is the collection of products a business is currently marketing?
• Which business structure provides limited personal liability for owners?
• Links between the producer and the consumer describe which term?
• What is the name of a contract that does not guarantee any particular number of hours of work?
• The goals or targets set by a business to help achieve its long-term purpose
• Goods for which demand will fall if income rises or rise if income falls
• Which statement best defines trade-offs?
• A person or organisation that answers questions in a survey is called what?
• Which term describes goods that are consumed together due to a linked usage pattern?
• Which business organization has a separate legal entity from its owners?
• Which sector is primarily composed of services such as retail, hospitality, and finance?
• Which term describes employees who use entrepreneurial skills within a company to develop initiatives that benefit the employer without risking their own money?
• Which term describes goods that become less demanded when income increases?
• A pay system designed for non-manual workers where pay increases are given if performance targets are met is called?
• Placing adverts using the media is an example of which promotion approach?
• Which term describes the long-term direction or aims a business sets to guide strategy?
• Which term describes the transfer of authority from a manager to a subordinate while the manager remains accountable?
• What term means any point at which a consumer buys a product?
• The responsiveness of demand to a change in income
• Giving employees greater responsibility and recognition by vertically extending their work role is called?
• The collection, presentation and analysis of information relating to the marketing and consumption of goods and services is called what?
• A business that buys goods from manufacturers and wholesalers, and sells them in small quantities to consumers describes which term?
• Which term refers to the extra features that may be offered by a business when selling a product to exceed customer expectations?
• Goods that can be bought as an alternative to others, but perform the same function
• Which term describes setting a high price initially and then lowering it later?
• Setting the price slightly below a round figure.
• The order of people's needs starting with basic human requirements is known as?
• Which term refers to the way authority and power is organised in an organisation?
• Which document outlines the internal running and governance of a limited company?
• If a fall in price leads to a large increase in quantity demanded, demand is described as
• The delivery of goods from the producer to the consumer describes which term?
• Which term refers to the overall approach a business uses to decide its selling prices?
• In business decision-making, what is the opportunity cost?
• Which term describes producers selling their products directly to consumers?
• Which term describes methods of promoting products in the short term to boost sales?
• Which term is the same as average cost (total cost divided by output)?
• What is the term for a percentage payment on a sale made to the salesperson?
• A line which is drawn on a graph that shows how much of a good which sellers are willing to supply at different prices
• Who undertakes their regular work from home?
• What term refers to brands created by the producers of goods or services?
• Which binding document defines the formal rights of partners in a business partnership?
• Which theory explicitly differentiates between factors that cause dissatisfaction and those that cause satisfaction?
• Which of the following describes a trade-off scenario?
• Which term describe a business owned by its members who are customers, not shareholders?
• Which term refers to using materials, components and services from suppliers that respect the environment, treat their workforce well and generally trade with integrity?
• Which term refers to the set of middle entities that connect producers and consumers?
• Which term describes the official structure of roles and responsibilities in a company as depicted by an organisational chart?
• Which term refers to the price at which the market clears, with no inherent pressure for price to rise or fall?
• A business that uses the global communications infrastructure of the internet as a trading base is known as what?
• Which term describes a form of compensation based on a percentage of sales?
• Which term refers to the process of creating a new product or service?
• Which term describes a decision scenario where choosing one option requires giving up another, a fundamental concept in resource allocation?
• The using up of natural resources is known as?
• A partner who contributes capital and shares in profits but does not take an active role in management is called a
• Which term refers to the division of people by social class for marketing analysis?
• Which term describes strategies based on rival prices?
• A very large market in which products with mass appeal are targeted.
• What training takes place away from the work area?
• Which term describes the internal structure of a business as shown by an organisational chart?
• What term refers to disruptive measures taken by workers to apply pressure when disagreements cannot be resolved?
• Which statement best defines opportunity cost?
• If a firm must decide between expanding production or increasing marketing spend, this illustrates which concept?
• Which term means making use of materials that have been discarded as waste?
• Which term describes the number of people a person is directly responsible for in a business?
• What is the document that lists personal details, qualifications, work experience and referees used by a job seeker?
• A document that provides the details of the internal running of a limited company
• What are methods used to prolong the life of a product?
• Typically a 2d diagram that shows two of the attributes or characteristics of a brand and those of rival brands in the market is called a?
• A change in price results in a proportionately smaller change in demand
• Which research method is primarily concerned with numerical data and statistical analysis?
• Which leadership style describes a manager who makes all decisions without consulting others?
• Giving official authority to employees to make decisions and control their own work activities is called what?
• Which term is an intermediary that brings together buyers and sellers?
• Which term corresponds to the process of reusing discarded materials?
• What term describes the elements of a business's marketing that are designed to meet the needs of the customers?
• Which term describes a company whose shares are traded on a stock market?
• Which term describes products manufactured for wholesalers or retailers by other businesses?
• Which term describes the process of collecting new information that does not exist yet?
• Which statement best describes opportunity cost?
• Which partnership type includes members who contribute capital but do not manage day-to-day running?
• The pricing policies or methods used by a business when deciding what to charge for its products.
• Which term describes the order of levels of responsibility in an organisation from the lowest to the highest?
• Which pay system pays employees an agreed rate for each item produced?
• Which of the following describes a government payment to producers to encourage production of a good?
• Which legal concept means owners are personally liable for the business debts?
• Which concept involves rotating employees through different jobs to reduce monotony?
• What term describes a business organization usually owned by between 2 and 20 people?
• Which management theory argues there is a 'best way' to perform work tasks and emphasizes efficiency?
• A business organization with a single owner is known as a