1.1 Edexcel business 9-1
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13 QuestionsShow answers
  • Question 1
    45 seconds
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    Q.

    A budding entrepreneur who is looking to set up a new enterprise is concerned that the business might not provide enough of a stable income to maintain his current standard of living. Which of the following best describes this risk?

    answer choices

    Inability to break even

    Lack of security

    Business failure

    Lack of independence

  • Question 2
    30 seconds
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    Q.

    Sara decided to start-up a business as a personal trainer, due to her passion for fitness. Which of the following is the main reason behind Sara’s business idea?

    answer choices

    Earn more money

    Pursue an interest

    Be her own boss

    Work more flexible hours

  • Question 3
    30 seconds
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    Q.

    Increased concern from consumers over the environment has led to new business start-ups developing products from recycled materials. These business ideas have come about due to:

    answer choices

    Services that have become obsolete

    Products that have become obsolete

    Changes in consumer demand

    Changes in the interest rate

  • Question 4
    30 seconds
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    Q.

    Which of the following statements best describes the term, reward?

    answer choices

    The probability that something will go wrong

    The chance of loss or damage

    When a hoped for outcome does not happen

    The benefits gained through business activity

  • Question 5
    30 seconds
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    Q.

    An entrepreneur has developed a unique product to launch into the market. Which of the following best describes how this new business idea came about?

    answer choices

    An original idea

    Adapting an existing product

    Adapting an existing service

    Adapting an existing idea

  • Question 6
    30 seconds
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    Q.

    Which of the following is a financial reason why an entrepreneur might start-up a new business

    answer choices

    To make a profit

    To pursue a skill or interest

    To have more freedom in decision-making

    To achieve a work-life balance

  • Question 7
    45 seconds
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    Q.

    Which of the following best describes the term, obsolete? When consumers:

    answer choices

    Demand more of a particular product or service

    Want, and can afford, to buy more products and services

    Can no longer afford to buy a particular product or service

    No longer want to buy a product or service

  • Question 8
    30 seconds
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    Q.

    Lack of overall planning and poor decision-making can lead to business failure. This is known as:

    answer choices

    Poor management

    Poor quality

    Poor understanding of the economy

    Poor sales levels

  • Question 9
    45 seconds
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    Q.

    An entrepreneur has produced a shaving oil for customers with sensitive skin to eliminate any pain when shaving. This is an example of a business idea that:

    answer choices

    Was developed and delivered to the market quickly

    Solved a customer problem

    Offered a cheaper way of doing something

    Is aimed at a fast growing market

  • Question 10
    30 seconds
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    Q.

    A product of service is obsolete when sales...

    answer choices

    Start to rise

    Rise rapidly

    Growth slows

    Fall or come to an end

  • Question 11
    45 seconds
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    Q.

    Which of the following statements is true in relation to goods and services?

    answer choices

    Services can be touched and held, whilst goods are usually invisible

    Goods can be touched and held, whilst services are intangible

    Services are visible, whilst goods are usually invisible

    Both goods and services are intangible

  • Question 12
    45 seconds
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    Q.

    Which two of the following are examples of risk that can occur from business activity? Select two answers:

    answer choices

    Profit

    Lack of security

    Independence

    Business success

    Financial Loss

  • Question 13
    45 seconds
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    Q.

    Which two of the following increases the risk of business failure? Select two answers:

    answer choices

    Draws up a detailed business plan

    Produces goods that do not meet customer needs

    Makes a product that stands out from its competitors

    Fails to carry out comprehensive market research

    Offers exceptional customer service

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