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