Risk, uncertainty & liability

In the Source Booklet, look at Figure 2 and read Extract A, then answer Questions 4, 5 and 6.

Outline one impact that competition could have on Pizza Pilgrims.

Analyse the impact on Thom and James of their lack of security when they started Pizza Pilgrims.

In the Source Booklet, look at Figure 2 and read Extract A, then answer Questions 4, 5 and 6.

Outline one possible risk to Keilan from setting up Adikoggz.

Analyse the importance to Adikoggz of identifying customer needs.

In the Source Booklet, look at Figure 3 and read Extract B, then answer Question 7.

State one example of a risk for an investor in Ripple.

Table 4 shows the percentage of different energy types used to produce electricity in the UK in 2018 and 2019.

(Source: adapted from https://smarterbusiness.co.uk/blogs/ where-does-the-uk-energy-supply-come-from/)

Using the information in Table 4, identify which type of energy use declined the most between 2018 and 2019.

Outline one benefit to customers from Ripple asking questions to identify its customer needs.

In order to help small businesses, such as Ripple, become successful the UK government is considering two options:

Option 1: reduce the tax paid by small businesses

Option 2: provide free training if businesses recruit new employees.

Justify which one of these two options would have the most significant impact on the success of Ripple.

Evaluate the importance of price in Ripple ’s marketing mix. You should use the information provided as well as your knowledge of business.

Which one of the following is an example of a variable cost?

Select one answer.

Which one of the following could be used to identify a market segment?

Select one answer.

Explain one risk for an entrepreneur when starting a new business.

Explain one way a small business could add value to a product.

Which one of the following is an example of a reward from business activity?

Select one answer.

Which one of the following is a definition of market share?

Select one answer.

Explain one benefit to a small business from having a unique selling point.

Explain one advantage to a small business of using trade credit as a source of finance.

Outline one risk taken by the owners when starting Last Course Patisserie.

Analyse the impact on Last Course Patisserie of operating as a private limited company.