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Title: Business studies
Description: I studied these notes and attained straight As
Description: I studied these notes and attained straight As
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AQA Business Studies GCSE
Exam Information
Exam Board: AQA (GCSE Business Studies full course)
Paper: Unit 1 Setting up a Business
Duration: 1 hour
Weighting: 40%
Style: 60 marks
...
There are approximately
four questions after each case study ranging from 2-9 marks
...
A calculator may be
used for the finance questions
...
Objectives
may include: survive, breakeven, build reputation
Stakeholders e
...
employees, suppliers, customers and government, have an interest
in the business and are effected in a variety of different ways
Business plans are key to the success of a start-up as they help the business to
clearly state it’s aims and objectives, gain finance and plan resources
Small and start-up businesses can select from a range of legal structures: Sole
Trader, Partnership, and Private limited company (Ltd)
When starting up it is important to choose the best location for your business
...
A business would consider: Cost,
competitors, access to raw materials, labour and other factors when making this
decision
Key Term
Start-up
Entrepreneur
Social Enterprise
Primary Sector
Secondary Sector
Tertiary Sector
Gap in the market
Aims
Objectives
SMART
Definition
A business that has just begun
A person who starts a business of their own, a risk taker
A business that is set up to benefit others, not just make a
profit
Where raw materials are grown or extracted e
...
g car
manufacturer
Where services are provided e
...
In relation to marketing – the strategies behind
the pricing decision
A product which has a name that you recognise e
...
Big
Mac
A product that is made by a manufacturer but sold under
the retailers’ name e
...
g
...
The possible stages are Producer,
Wholesaler, Retailer and Consumer
...
g providing
employment
There are a range of key calculations you need to know to work out your basic
business finances: Sales, revenue, profit, total costs
Cash flow is really important especially in small and start-up businesses as it is often
lack of cash and being unable to pay bills that businesses close down
Key Term
Source of finance
Owners’ funds
Bank loan
Mortgage
Overdraft
Hire purchase
Government grants
Business Link
Price
Sales
Revenue
Costs
Fixed Costs
Variable Costs
Start-up Costs
Running Costs
Definition
A method used by a business to raise funds (money)
Money put into the business by the business owners
Money borrowed from the bank over an agreed period of
time
A loan which can only be used to purchase property and
land
Where a business is allowed to withdraw more money
from their bank account than is actually available
Title: Business studies
Description: I studied these notes and attained straight As
Description: I studied these notes and attained straight As