Eduqas GCSE Business topic area 2 Influences on business overview quiz quiz

Its borrowing costs fall and profit rises

Its borrowing costs rise and profit falls

Nothing changes

Its sales automatically increase

How inflation gradually pushes up the wages that a business pays its staff

How to calculate the break-even point where total costs equal total revenue

How a strong pound makes imports cheaper and exports dearer

The stages a business works through when writing a full business plan

Strong

Fixed

Unchanged

Weak

A sustained rise in the general level of prices

A fall in the interest rates that banks charge on loans

An increase in the goods a country sells abroad as exports

A rise in the number of people who are out of work

More expensive raw materials that push up the firm's costs

Access to larger markets to sell in

Less competition from rival firms in other countries

Higher interest rates charged on the firm's bank loans

A business that sells its products only within its own home country

A charity that operates across several different countries at once

A business that operates in more than one country

A sole trader who runs a small business entirely on their own

Making as much profit as is possible in the shortest possible amount of time available

Selling its products abroad to customers in many other countries

Borrowing money from a bank to pay for new equipment and growth

Meeting present needs without harming future generations' ability to meet theirs

A stronger reputation that can attract loyal customers and justify a higher price

Lower costs in the short term, because ethical choices are always the cheapest option

Less regulation from the government, because ethical firms are left alone

Cheaper raw materials, because ethical suppliers always charge the lowest prices

Selling goods only in physical high-street shops that customers visit in person

Buying and selling goods and services over the internet

A particular type of business ownership, such as a partnership or company

A tax that the government charges businesses on the sales they make

2 years

8 years

4 years

16 years

The cheapest products available anywhere on the whole market

Made entirely in the UK rather than imported from overseas

Sold only online and never in any physical high-street shop

Of satisfactory quality, fit for purpose and as described

Because it protects the firm from fines, compensation claims and reputational damage that cost far more

Because complying with legislation always lowers a business's total costs in both the short and the long term

Because following the law increases the amount of competition a business has to face

Because the government pays a business for the cost of meeting all of its legal duties