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Business Key Terms

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