Busines a level - Study guides, Revision notes & Summaries

What is a business objective? Why is one needed? - ANS-- It is a goal for the entire organisation - They guide the actions of those withing the business

Budget An agreed plan, establishing, in numerical and financial terms, the policy to be pursued and the anticipated outcomes of that policy SMART How budgets must be: Specific Measurable Agreed Realistic Timed Variance Analysis The process by which the outcomes of budgets are examined and then compared with the budgeted figures Favourable Variance When costs are less than expected, or revenue is more than expected Adverse Variance When costs are higher than expected or revenue is ...

AQA A-LEVEL BUSINES PAPERN1 Questions And Answers

What is a business objective? Why is one needed? - correct answer - It is a goal for the entire organisation - They guide the actions of those withing the business What are the main objectives a business might have? (There are 8) - correct answer - Growth - Reduction of risks / diversification - Profit (reduce production costs / increase price) - Survive (applicable for most start-up companies) - Cash flow objective (making sure the cash flowing into a business is enough to cover ...

AQA A Level Business Studies - BUSS2 questions and answers A+ score assured 2024/2025

AQA A Level Business Studies - BUSS2 Paper 2 May 2024 Exam Questions and Answers

Edexcel Business Studies A level: Theme 3.1 and 3.2 Exam 2024 Questions and Answers

Types of market - Mass, niche and dynamic Market orientation - The needs of the consumer placed at the centre Product orientation - Emphasis placed on the production process and the product itself Quantitative market research - Collection of numerical information Qualitative market research - Collection of information about attitudes, beliefs, etc. Factors affecting demand - Price of complements / substitute goods Consumer incomes Fashions Advertising Demogra...

Business Studies AS & A Levels: Formulas Exam QUESTIONS & ANSWERS 2024 ( A+ GRADED 100% VERIFIED)

Internal finance Money generated by the business or its current owners External finance Money raised from sources outside the business Owner's Capital The money provided by the owners in a business Sale of assets when a business sells off its unwanted or unused assets to raise funds Retained profit Profit after tax that is 'ploughed back' into the business