Business igcse - Study guides, Revision notes & Summaries

EDEXCEL IGCSE BUSINESS STUDIES EXAM LATEST UPDATE 2024/2025 QUESTIONS AND ANSWERS GRADED A+

Cambridge IGCSE Business Studies 5th edition Hodder Education

Cambridge IGCSE Business Studies Key Terms Cambridge IGCSE Business Studies Key Terms Cambridge IGCSE Business Studies Key Terms

iGCSE Business Studies Questions and Answers | Latest Version | 2024/2025 | 100% Pass What is the definition of a business? A business is an organization that provides goods or services to customers in exchange for money. What are the main objectives of a business? The main objectives of a business typically include making a profit, increasing market share, and providing quality products or services. What is the difference between goods and services? Goods are tangible produc...

Cambridge IGCSE Business Studies Questions and Answers | Latest Update | 2024/2025 | Rated A+ What is meant by a ‘need’? A need is something essential for survival, such as food, water, or shelter. What is a ‘want’? A want is something that is not essential for survival but is desired to improve the quality of life, like a smartphone or holiday. What is ‘opportunity cost’? Opportunity cost is the benefit or value of the next best alternative that is given up whe...

Edexcel IGCSE Business Studies | Latest Update | 2024/2025 | Rated A+ What is meant by ‘profit’? Profit is the financial gain made when total revenue exceeds total costs. Define 'entrepreneur'. An entrepreneur is an individual who takes the risk to start and run a business with the aim of making a profit. What is the meaning of ‘market share’? Market share refers to the percentage of total sales in a market that a company or product controls. What is a ‘business ...

IGCSE Business Final Exam Questions & Answers 2024. CHAPTER 1 - BUSINESS ACTIVITY - CORRECT ANSWER Business - CORRECT ANSWER An organisation which produces goods and services. Need - CORRECT ANSWER A need is a good or service essential for living. Want - CORRECT ANSWER A want is a good or service which people would like to have, but which is not essential for living. People's wants are unlimited. Economic problem - CORRECT ANSWER There exist unlimited wants but limited resourc...

Business Studies – IGCSE Complete Exam Questions & Answers 2024. Needs - CORRECT ANSWER We cannot live without these. Wants - CORRECT ANSWER They benefit us but are not necessary to live. Scarcity - CORRECT ANSWER Lack of sufficient resources. Needs (example) - CORRECT ANSWER Water, food, housing. Wants (example) - CORRECT ANSWER Soft drinks, chocolate, furniture. Opportunity Cost - CORRECT ANSWER The next best alternative. Factors of Production - CORRECT ANSWER Resource...

Chapter 8 | IGCSE Business Studies Internal Recruitment Filling a vacant position with someone already employed in the business 4 advantages of Internal Recruitment 1. Vacancy can be filled quickly 2. Applicants already know how the business works 3. The business already knows the strengths and weaknesses of applicants 4. Employees are motivated by the chance for promotion 4 limitations of internal recruitment 1. Better candidate may be outside the business, 2. Conflict can occur betwe...