Entrepreneurship

Which two of the following are ways that a small business could add value?

Select two answers.

Which two of the following are elements of the marketing mix?

Select two answers.

Table 1 contains information for a small business.

Using the information in Table 1, calculate the fixed costs for the small business. You are advised to show your workings.

Explain one way a unique selling point could add value to a small business.

Explain one disadvantage of starting a business as a sole trader.

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

State one way that Teendrive must meet employment law.

Table 4 shows the price of block booked driving lessons at Teendrive.

Using the information in Table 4, identify which block of lessons would be the most expensive per individual lesson .

Outline one reason why the idea of Teendrive came about.

In order to increase market share, the owner of Teendrive is considering two options:

Option 1: use market mapping to target new customers

Option 2: increase spending on advertising.

Justify which one of these two options Teendrive should choose.

Evaluate the likely impact of an improvement in the economic climate to the success of Teendrive. You should use the information provided as well as your knowledge of business.

Which one of the following is a financial aim for a new business?

Select one answer.

Figure 1 shows the number of units sold by a business each month from June to August. The break even level of output for each month was 5,000.

Using the information in Figure 1, calculate the margin of safety for August. You are advised to show your workings.

Explain one disadvantage to a small business from an increase in unemployment.

Explain one advantage to a small business from using e-commerce.

Discuss the way a small business could use branding to add value.

Which two of the following are examples of customer needs?

Select two answers.

Which two of the following are roles of an entrepreneur?

Select two answers.

Table 1 contains information about a small business.

The business increases the selling price of its product to £6.50 per unit.

Using the information in Table 1, calculate the decrease in the break even level of output. You are advised to show your workings.

Explain one way a small business could become more competitive.

Explain one advantage to a small business of meeting its legal obligations.

Which one of the following could a small business use to add value?

Select one answer.

Figure 1 shows the number of units sold per month by a business from February to April. The selling price for each unit was £5.20

Using the information in Figure 1, calculate the revenue for March. You are advised to show your workings.

Explain one disadvantage to a small business of not paying its employees on time.

Explain one advantage to a small business from using retained profit as a source of finance.

Discuss the impact on a small business from adapting existing products to develop new business ideas.

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 two of the following are examples of a service?

Select two answers.

Which two of the following are examples of cash inflows?

Select two answers.

Table 1 contains information about a small business for one month.

Using the information in Table 1, calculate the margin of safety. You are advised to show your workings.

Explain one disadvantage to a small business of using an overdraft as a source of business finance.

Explain one impact on a small business of an increase in unemployment.

When starting the business in 2007, Melanie took out a loan. The financial details of this loan are in Table 2.

Using the information in Table 2, calculate the interest on the loan as a percentage of the total amount borrowed. You are advised to show your workings.

Using the information in Table 2, calculate, to 2 decimal places, the monthly repayments for the loan. You are advised to show your workings.

Analyse the impact on Little Movers of having a strong brand.

Which two of the following can be interpreted from a break even diagram?

Select two answers.

Which two of the following are types of technology that could be used by a business?

Select two answers.

Table 1 shows the cash-flow forecast for a small business.

Complete the table with the two missing figures.

Explain one reason why an entrepreneur may adapt an existing product to come up with a new business idea.

Explain one disadvantage to a small business of using a focus group to collect market research data.

Which one of the following is a disadvantage of starting a partnership?

Select one answer.

Figure 1 shows the sales revenue of a business from January to April.

Using the information in Figure 1, calculate, to 2 decimal places, the percentage decrease in sales revenue from January to March. You are advised to show your workings.

Explain one disadvantage to a small business of an increase in interest rates.

Explain one disadvantage to a small business of manufacturing a high quality product.

Discuss the impact on a small business from the introduction of new employment laws.

State one fixed cost that Sports Tours Ltd will need to pay.

Outline one likely impact of changing levels of consumer income on Sports Tours Ltd.

In order to add value to its business activities Sports Tours Ltd is considering two options:

Option 1: using professional sports venues for tournaments

Option 2: providing teams with top class coaching when on tour.

Justify which one of these two options Sports Tours Ltd should choose.

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.

Which one of the following is a characteristic of a sole trader?

Select one answer.

Figure 1 shows the total costs for a business between May and July.

Using the information in Figure 1, calculate the percentage change in total costs between May and July. You are advised to show your workings.

Explain one reason why new business ideas come about.

Explain one advantage to a small business of using market mapping.

Discuss how the decision making of a small business may be affected by increased competition.