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EDEXCEL A LEVEL BUSINESS - THEME 1 EXAM 2024/2025 | ACCURATE AND VERIFIED EXAM QUESTIONS AND ANSWERS FOR GUARANTEED PASS | LATEST UPDATE£13.94
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EDEXCEL A LEVEL BUSINESS - THEME 1 EXAM
2024/2025 | ACCURATE AND VERIFIED EXAM
QUESTIONS AND ANSWERS FOR
GUARANTEED PASS | LATEST UPDATE
Above-the-line promotion - ✔✔ANSW✔✔..Placing adverts using the media
Added value - ✔✔ANSW✔✔..The extra features that may be offered by a business
when selling a product, such as high-quality customer service, which helps to exceed
customer expectation
Advertising - ✔✔ANSW✔✔..Communication between a business and its customers
where images are placed in the media to encourage the purchase of products
Agent or broker - ✔✔ANSW✔✔..An intermediary that brings together buyers and sellers
Aims - ✔✔ANSW✔✔..What a business tries to achieve in the long term
Articles of Association - ✔✔ANSW✔✔..A document that provides the details of the
internal running of a limited company
Authority - ✔✔ANSW✔✔..The right to command and make decisions
Autocratic leadership - ✔✔ANSW✔✔..A leadership style where a manager makes all
the decisions without consultation
Below-the-line promotion - ✔✔ANSW✔✔..Any promotion that does not involve the
media
Bonus - ✔✔ANSW✔✔..A payment in addition to the basic wage for reaching targets or
in recognition for service
Boston Matrix - ✔✔ANSW✔✔..A 2x2 matrix model that analyses a product portfolio
according to growth rate of the market and the relative market share of products within
the market
, Brand Name - ✔✔ANSW✔✔..A name, term, sign, symbol, design or any other feature
that allows consumers to identify the goods and services of a business and to
differentiate them from those of competitors
Breaking-bulk - ✔✔ANSW✔✔..Dividing a large quantity of goods received from a
supplier before selling them on in smaller quantities to customers
Centralisation - ✔✔ANSW✔✔..A type of business organisation where major decisions
are made at the centre or core of the organisation and then passed down the chain of
command
Certificate of Incorporation - ✔✔ANSW✔✔..A document that declares a business is
allowed to trade as a limited company
Chain of command - ✔✔ANSW✔✔..The way authority and power is organised in an
organisation
Choices - ✔✔ANSW✔✔..In business, deciding between alternative uses of resources
Co-operative - ✔✔ANSW✔✔..A business organisation owned by its members, who all
have equal voting rights
Collective bargaining - ✔✔ANSW✔✔..A method of determining conditions of work and
terms of employment through negotiation between employers and employee
representatives
Commission - ✔✔ANSW✔✔..Percentage payment on a sale made to the salesperson
Competitive advantage - ✔✔ANSW✔✔..An advantage that enables a business to
perform better than its rivals in the market
Competitive pricing - ✔✔ANSW✔✔..Pricing strategies based on the prices charged by
rivals
Complementary goods - ✔✔ANSW✔✔..Goods that are purchased together because
they are consumed together
Consulation - ✔✔ANSW✔✔..Listening to the views of employees before making key
decisions which affect them
Consumer durables - ✔✔ANSW✔✔..Goods that can be used repeatedly over a period
of time, such as cars and household appliances
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