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AQA GCSE BUSINESS PAPER 1 EXAM QUESTIONS AND CORRECT ANSWERS
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AQA GCSE BUSINESS PAPER 1 EXAM QUESTIONS AND CORRECT ANSWERS 1. Disadvantages of a sole trader - ANSWER -long hours, unlimited liability, hard to raise money, risky, lack of continuity 2. Partnership - ANSWER -2-20 partners who usually have equal share of profits 3. Advantages of partnershi...

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  • August 6, 2024
  • 21
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • aqa gcse business paper 1 exam questions
  • aqa gcse business paper 1 exam questions and corr

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  • AQA GCSE BUSINESS
  • AQA GCSE BUSINESS

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AQA GCSE BUSINESS PAPER 1 EXAM

QUESTIONS AND CORRECT ANSWERS

1. Disadvantages of a sole trader - ANSWER -long hours, unlimited

liability, hard to raise money, risky, lack of continuity



2. Partnership - ANSWER -2-20 partners who usually have equal

share of profits



3. Advantages of partnership - ANSWER -more ideas, greater

range of skills, shared workload, more money to start the

business



4. Disadvantages of partnership - ANSWER -unlimited liability,

disagreements, shared profits, legally responsible for what other

partners do



5. Private limited company (Ltd) - ANSWER -Company owned by

shareholders, but shares only sold privately, smaller businesses

, public limited company (PLC) - ANSWER -large company, owned

by shareholders, it can sell its shares to the general public



6. Advantages of a Ltd - ANSWER -limited liability, continuity,

easier to get a loan, owners keep full control



7. Disadvantages of a Ltd - ANSWER -published accounts, more

expensive to set up, can only sell shares privately



8. Disadvantages of a PLC - ANSWER -owner could loose control,

expensive to start up, large organisations are difficult to manage

efficiently



9. Advantages of a PLC - ANSWER -limited liability, much more

capital can be raised, can sell shares on the stock market



10. Technological change - ANSWER -businesses need to

keep up with rapid changes in technology. This includes

advertising methods, production, e-commerce and m-

commerce.

, 11. Environmental expectations - ANSWER -businesses have

to be aware of how strongly their customers feel about

environmental and other ethical issues. This affects how they

produce, package and transport their products



12. Legal change - ANSWER -businesses will be affected by

new legislation such as changes to the minimum wage



13. Economic change - ANSWER -the state of the economy

affects business success eg interest rates, inflation



14. Examples of aims - ANSWER -survival, profit maximisation,

growth, increased market share, ethics



15. Objectives - ANSWER -they're specific, measurable steps

to achieve the aim



16. Smart targets - ANSWER –
S - specific

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