Business studies igcse - Study guides, Revision notes & Summaries

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 ...

Great IGCSE Business Studies notes detailing all 6 Units, with definitions of key terms and concepts alongside all the needed syllabus information for the best possible grades.

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...

Chapter 8 | IGCSE Business Studies questions with complete solution

EDEXCEL IGCSE Business Studies Exam Questions & Answers 2023 Above-the-line promotion - ANSWER-Placing adverts using the media. Acid test ratio - ANSWER-Similar to the current ratio but excludes stocks from current assets. Sometimes called the quick ratio. Advertising - ANSWER-Communication between a business and its customers whereby messages are placed in the media to encourage the purchase of products. Agent or broker - ANSWER-An intermediary that brings together buyers and seller...

Full summary notes for IGCSE/O-Level business studies syllabus, written based on the textbook 'Cambridge IGCSE and O Level Business Studies 5th edition by Karen Borrington Peter Stimpson [Borrington, Karen Stimpson, Peter' however well suited for other O-level equivalent subjects as well as future syllabus. These notes were written by me throughout the 2 years I studied Business studies for the IGCSE Business Studies (0450) examinations and were extensively developed during my revision and lea...