Look inside the Edexcel GCSE Business guide (1BS0)

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Look inside the Edexcel GCSE Business guide

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Edexcel · GCSE · 1BS0
Business
Active Recall Guide
672 questions
BusinessContents
Contents
10 topics, 43 subtopics
  1. Enterprise and Entrepreneurship46
  2. Spotting a Business Opportunity76
  3. Putting a Business Idea into Practice68
  4. Making the Business Effective75
  5. Understanding External Influences on Business78
  6. Growing the Business79
  7. Making Marketing Decisions78
  8. Making Operational Decisions62
  9. Making Financial Decisions32
  10. Making Human Resource Decisions78
ii
Spotting a Business OpportunityQuestions
Spotting a Business Opportunity
Customer needs
  1. What are customer needs?
  2. Name the four customer needs that a business must understand.
  3. Why is price a customer need?
  4. What does quality mean as a customer need?
  5. Why do customers value choice?
  6. What is meant by convenience as a customer need?
  7. How do customer needs differ between a budget supermarket shopper and a luxury hotel guest?
  8. Why is it important for a business to identify and understand its customers' needs?
  9. How does understanding customer needs help a business to generate sales?
12
Spotting a Business OpportunityAnswers
Answers
Customer needs
  1. Customer needs are the things customers want from a product or service. A business must provide them to win the sale.
  2. The four customer needs are price, quality, choice and convenience.
  3. Customers want a price they can afford and that is fair for what they get. Price-sensitive customers will switch to a cheaper rival.
  4. Customers expect a product to work properly, last and match its description. The level of quality expected rises with the price paid.
  5. Customers want a range of products, sizes, colours or options to pick from. A wide choice means each customer can find something that suits them.
  6. Convenience means a product is easy to get and use, saving the customer time and effort. Late opening, home delivery and online ordering all add convenience.
  7. A budget shopper puts low price first. A luxury hotel guest puts quality and personal service ahead of price.
  8. A business that meets customer needs will generate sales. A business without sales cannot survive.
  9. Products that match what customers want are more likely to be bought. Satisfied customers return and recommend the business to others.
13
Understanding External Influences on BusinessQuestions
Understanding External Influences on Business
Technology and business
  1. Name four types of technology used by business.
  2. What is e-commerce, and how do customers use it?
  3. How does e-commerce increase a business's sales?
  4. How do businesses use social media?
  5. Give one risk of using social media for a business.
  6. What is digital communication?
  7. How does digital communication benefit a business?
  8. Give three examples of modern payment systems.
  9. How do modern payment systems affect sales?
34
Understanding External Influences on BusinessAnswers
Answers
Technology and business
  1. Businesses use e-commerce, social media, digital communication and payment systems.
  2. E-commerce is buying and selling goods and services over the internet. Customers order through a website or app and pay online.
  3. E-commerce lets a business sell 24 hours a day to customers anywhere. A small business can reach national and international markets.
  4. Businesses use social media to promote products and talk directly with customers. Social media posts can spread quickly and build a brand at low cost.
  5. Negative comments and complaints can spread quickly and damage a firm's reputation. Social media accounts take staff time to manage well.
  6. Digital communication is sending information electronically, such as by email, messaging and video calls. Digital communication is fast and cheap.
  7. Staff, suppliers and customers can be contacted instantly wherever they are. Video calls cut the cost and time of travelling to meetings.
  8. Contactless card payments are one example. Mobile wallets such as Apple Pay are another. Online payment services such as PayPal are a third.
  9. Quick and easy payment encourages impulse buying and reduces abandoned sales. Customers who carry no cash can still buy.
35
Making Operational DecisionsQuestions
Making Operational Decisions
Business operations and production processes
  1. What is the purpose of business operations?
  2. What is the difference between producing goods and providing services?
  3. What is job production?
  4. What are the advantages and disadvantages of job production?
  5. What is batch production?
  6. What are the advantages and disadvantages of batch production?
  7. What is flow production?
  8. What are the advantages and disadvantages of flow production?
  9. What is productivity?
56
Making Operational DecisionsAnswers
Answers
Business operations and production processes
  1. Business operations turn inputs such as materials and labour into goods or services. Operations aim to meet customer needs efficiently.
  2. Goods are physical products that can be stored, such as cars. Services are intangible actions performed for customers, such as haircuts.
  3. Job production is making a single, unique product to a customer's own order. Wedding cakes and made-to-measure suits are made this way.
  4. Job production gives high quality and exactly what the customer wants, so a high price can be charged. Unit costs are high because the work is skilled and slow.
  5. Batch production is making a set number of identical products before switching to a different batch. A bakery might bake 200 white loaves, then 200 brown.
  6. Batch production offers some variety while keeping unit costs below those of job production. Machines stand idle while they are reset between batches.
  7. Flow production is making large numbers of identical products continuously along a production line. Cars and soft drinks are made by flow production.
  8. Flow production gives very low unit costs and high productivity through automation. The set-up cost is huge, and products are standardised with little variety.
  9. Productivity is output per worker or per machine in a given time. Higher productivity means lower costs per unit.
57
Keep going
672
questions
43 subtopics

Scroll sideways to turn through the pages.

672 questions
Across 43 subtopics, every one of them from specification 1BS0.
One PDF
Print it, or work from a screen with a notebook beside you.
Answers after, not beside
Covering the answers is a matter of not turning the page, which is what makes the closed-book pass possible.

How the guide is worked

Answering a question from memory stores it far better than reading the answer again. The guide runs that as a fixed procedure on one subtopic at a time, about twenty minutes a session.

  1. Step 1 · Closed book

    Cover the answers. Work through one subtopic and write down what you can. Leave blanks where you have nothing.

  2. Step 2 · Open book

    Go back to the top. Read each printed answer and write it out in full, including the ones you had right.

  3. Step 3 · Closed book again

    Same questions, same order, from memory. The gap between pass one and pass three is the session result.

Read the full method, the return schedule and the research behind it.

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