Free Edexcel GCSE Business Studies
Practice Paper

The process of finding and hiring staff is:

1. retirement
2. recruitment
3. redundancy
4. appraisal

Special offers and advertising are part of:

1. purchasing
2. recruitment
3. promotion
4. production

The 4Ps of the marketing mix are product, price, place and:

1. promotion
2. profit
3. people
4. process

The point where total revenue equals total costs is:

1. the mark-up
2. break-even
3. profit maximisation
4. margin of safety

Characteristics of an entrepreneur include determination and:

1. ignoring customers
2. wasting money
3. risk-taking
4. avoiding decisions

The reward an entrepreneur seeks for taking risk is usually:

1. debt
2. loss
3. profit
4. tax

Dividing customers into groups with similar characteristics is:

1. market mapping only
2. auditing
3. market segmentation
4. market share

A new idea that meets a customer need is a business:

1. liability
2. overhead
3. audit
4. opportunity