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Business Key Terms

  • Game Code: 4111499
  •  16     Public
    A #business key terms test for #gcse business in the real world
  •   Study   Slideshow
  • How do you feel today?
    Unhappy
    Happy
    hungry
  •  15
  • What are the 7p's of marketing?
    Product, Price, Place, Promotion, People, Process, Physical evidence
    Physical evidence, People, Process, Power, Price, Place, Product
    Process, Physical power, People, Promotion, Place, Price, Product
    Product, Price, Place, Promotion, People , Progress, Physical evidence
  •  15
  • A business is an organisation where ____ or ____ are exchanged for money
    needs or wants
    goods or services
    profits or goods
    profits or services
  •  15
  • What is marketing?
    Making profit
    Targeting individuals because you like them
    Targeting a product at a target market using the four p's
    Selling products
  •  15
  • What is a service?
    a tangible product of a business sold to make profit
    driving you car to your business address
    doing you class work on time
    an intangible product of a business sold to make profit
  •  15
  • McDonalds and KFC are examples of a Franchisor.
    False
    True
  •  15
  • What you receive when you sell goods or services is called -
    Capital
    Profit
    Revenue
    Money
  •  15
  • What is market segmentation?
    A section of the school who all like the same
    A place in the world
    A section of the market that have similar characteristics
    A part of the world
  •  15
  • What is revenue?
    total income generated from selling products & services
    the money you have left over from your paycheck
    the amount of money left after all expenses are taking out
    the amount of money you make in your paycheck before taxes
  •  15
  • The amount left over from revenue after all cost and expenses are met is called
    Money
    Profit
    Sales
    Saving
  •  15
  • who is the franchisee?
    A big successful business
    The big business who lets others use their name
    The person who buys the right to use the name
    A person from France
  •  15
  • A physical product that is designed by a business and sold to customers is known as a
    need
    good
    service
    want
  •  15
  • What is price penetration?
    Will set the highest price customers will pay and lower it over time
    Making sure that your prices are lower than your competition
    Attracting customers to a new product or service by offering a lower price
    Making sure that your prices don't match your competition
  •  15
  • What is profit?
    When costs and revenue are equal
    All revenue is profit
    When costs are greater than revenue
    When revenue is greater than costs
  •  15
  • What is business?
    Creating a new product
    having a Shop
    Making money
    An activity that provides goods or services for profit.
  •  15
  • How do you calculate Total Revenue?
    Selling Price x Quantity Sold
    Selling Price + Quantity Sold
    Quantity Sold - Total Cost
    Profit / Quantity Sold
  •  15
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