business exam revision 1.0 / 5 based on 1 rating ? Business Studiesbusiness exam topicsYears 7-9 (KS3)All boards Created by: iaciac007Created on: 19-04-21 17:33 identify the 4 main segments that a business would target their products at 1. women 2. men 3. adults 4.youngsters 1 of 17 what is primary research? getting new data based on the things people or possible customers in your chosen target market 2 of 17 what is secondary research? collecting information or data from information that has been collected previopusly 3 of 17 give 3 examples of primary research 1. interviews 2. quizzes 3. phone calls 4 of 17 give 3 examples of secondary research 1.encyclopedias 2. books 3. news articles 5 of 17 what is an advantage of locating overseas? cheaper to hire staff in other countries 6 of 17 what is a disadvantage of locating overseas? another language may be spoken 7 of 17 what are fixed costs? costs that don't alter when a business changes its sales 8 of 17 what are variable costs? vary directly with the business's level of output and sales 9 of 17 3 examples of fixed costs 1. rent 2. bills 2. mortgage 10 of 17 3 examples of variable costs 1. repair of broken objects 2. food 3. plates and cutlery 11 of 17 what is margin of safety? the amount current sales could fall before a loss is made 12 of 17 what is the formula for calculating profit? TOTAL REVENUE-TOTAL COSTS=PROFI 13 of 17 what is the formula for calculating revenue? SELLING PRICE X SALES (number of items sold)=REVENUE 14 of 17 what is an advantage of using BE analysis? predict the effects of changes in sales prices 15 of 17 what is a disadvantage of using BE analysis? may be time consuming to preparea 16 of 17 are you going to ace this exam? YES! 17 of 17
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