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Edexcel GCSE Business Studies: Questions with complete solutions 2025(A+ GRADED 100% VERIFIED).
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Edexcel GCSE Business Studies: Questions with complete solutions 2025(A+ GRADED 100% VERIFIED).
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Edexcel GCSE Business Studies:Stakeholders - ANS- Individuals or groups of individuals who affect or are
affected by a business
Give 8 examples of stakeholders - ANS- 1. Government
2. Owner
3. Employees
4. Financiers
5. Community
6. Costumers
7. Managers
8. Suppliers
Consumer Goods - ANS- Goods and services that are produced for consumers
Producer Goods - ANS- Goods or products sold from one business to another
Needs - ANS- Essentials needed for human survivial
Wants - ANS- Luxury items that are desired but not required
What are objectives that businesses have? - ANS- 1. Survival
2. Image
3. Growth
4. Profit
5. Market Share
What are SMART objectives? - ANS- Specific
Measurable
Achievable
Realistic
Timely
Entrepreneurs - ANS- Individuals that takes risks on new business ideas
What are some of the qualities or skills that a successful entrepreneur must
have? - ANS- 1. Risk taker
2. Organsied
,3. Leader
4. Confident
5. Brave
6. Positive
7. Smart
8. Determined
9. Innovative
10. Responsible
Sole Trader - ANS- A business owned by one person
Three advantages of being a Sole Trader? - ANS- 1. All profits are kept
2. Full control of business
3. Can apply for government help or support
Three disadvantages of being a Sole Trader? - ANS- 1. Unlimited liability
2. Unincorporated
3. No continuity
Partnerships - ANS- Business owned by 2 - 20 people and are of two forms:
limited liability partnerships and unlimited liability partnerships
Three advantages of partnerships - ANS- 1. More capitol
2. Shared workload
3. No legal formalities
4. Partners can specialise in differnet fields or departments
Three disadvantages of partnerships - ANS- 1. Conflicts and issues may arise
2. Unlimited liability
3. Profits shared
4. Tend to be small
Sleeping Partner - ANS- A partner who has a share in the business but does not
work in it
Deed of partnership - ANS- A document containing an agreement between all
partners that details the rights and obligations of each partner participating in the
venture
,Why are they used? - ANS- They are used to sort out which department or area
each partner specifies in
Stock Market - ANS- Where people can buy and sell shares of public limited
companies
Ltd - ANS- Private Limited Company
Plc - ANS- Public Limited Company
Retained profits - ANS- The percentage of profits kept or saved by the company
to invest or expand
Memorandum of Association - ANS- Contains the internal rules for running the
company
Articles of Association - ANS- Must be issues for the company's to being trading
Certificate of incorporation - ANS- Includes a statement of the authorised capital
Dividend - ANS- The money shareholders receive from the company's profits
Failing Math, Arabic, Science, Chemistry, PE, School... Cool Times - ANS- 1. Files
or registers for company
2. Memorandum of Association
3. Articles of Association
4. Statutory deceleration
5. Certificate of incorporation
6. Prospectus
7. Sells shares
8. Certificate of trading
9. Starts trading
Private Limited Company - ANS- - Minimum of 2 shareholders
- Run by a board of directors
- Expensive
Advantages of Ltds - ANS- 1. Limited liability
2. More capital raised
3. Control of shareholders
, 4. Continuity
Disadvantage of Ltds - ANS- 1. Financial information has to be made public
2. Costs money and time to set up
3. Profits shared between more shareholders
4. Cannot raise huge amounts of money like Plcs
Advantages of Plcs - ANS- 1. Large amounts of capital raised
2. Shareholders has limited liability
4. Incorporated
5. Continuity
6. Can exploit economies of scale
7. Can dominate market
8. Very high media profile
9. More status
10. Shares are easily bought and sold
Disadvantages of Plcs - ANS- 1. Risk of takeover
2. Setting up is very expensive
3. Can lose control of company as a result of outsiders
4. Managers may take control rather than owners
5. Have to publish full accounts to public
Public limited Company - ANS- 1. Most likely to be in media
2. At risk of takeover
3. Banks are more likely to lend money
4. Must have a share capital in excess of £50,000
5. Has to publish full accounts and accessible to members of public
6. Minimum of 7 shareholders
7. Shares sold in stock market
8. Run by board of directors
Multinational Company - ANS- A business that serves global markets and
provides jobs and standardised products or services
Advantages of MNC - ANS- 1. Increased revenue
2. Increase employment and income
3. More customer choice
4. Improvement in the quality of human capital
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