(9-1) BUSINESS EXAM STUDY GUIDE
2026/2027 COMPLETE QUESTIONS WITH
VERIFIED CORRECT ANSWERS ||
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1. Adding value - ANSWER ✔ How a business sells a product for more than it
costs through the processes they apply
2. Advertising - ANSWER ✔ Promotional method where a business pays to
place an advert in a form of media
3. Aesthetics - ANSWER ✔ The attractiveness of the design of a product
4. Aims and objectives - ANSWER ✔ The overall goals of a business
identifying what it is trying to achieve
5. Digital technology - ANSWER ✔ Use of computers to improve business
performance
6. Directors - ANSWER ✔ People appointed to run a company
,7. Discrimination - ANSWER ✔ Unfair treatment based on characteristics such
as age or gender
8. Distribution - ANSWER ✔ How a product reaches consumers
9. Dividend - ANSWER ✔ Share of profit paid to shareholders
10.E-commerce - ANSWER ✔ Buying and selling online
11.Economic climate - ANSWER ✔ The state of the economy
12.Efficiency - ANSWER ✔ Output produced per unit of input
13.Employees - ANSWER ✔ People who work for a business
14.Employment law - ANSWER ✔ Laws protecting workers
15.Globalisation - ANSWER ✔ The process by which trade, competition,
transport and communications have become more international
16.Multinational company (MNC) - ANSWER ✔ A company with some or all
of its operations in more than one country
17.Imports - ANSWER ✔ Goods and services brought into the country
,18.Exports - ANSWER ✔ Goods and services sent out of the country
19.International trade - ANSWER ✔ The exchange of money, goods and
services across international borders
20.Tariffs - ANSWER ✔ Taxes on goods and services imported from another
country that make these more expensive to the consumer
21.Inward investment - ANSWER ✔ Foreign capital invested in a country
22.Advantages of globalisation - ANSWER ✔ Growth, inward investment,
lower labour and production costs, enlarged market for goods and services
23.Disadvantages of globalisation - ANSWER ✔ Increased competition,
foreign takeovers, increased costs from tariffs and exchange rate changes
24.short-term (financing) needs - ANSWER ✔ The money needed to pay for
the current operating activities of a business
25.long-term (financing) needs - ANSWER ✔ money needed for the main
resources of a business that will last for many years
26.start-up financing - ANSWER ✔ the amount of money needed to open the
business
27.expansion Financing - ANSWER ✔ the amount of money needed to expand
the business
, 28.Internal sources of finance - ANSWER ✔ Finance which is obtained within
the business such as retained profit or the sale of assets
29.Personal Savings - ANSWER ✔ Money that has been set aside and not spent
by individuals which is then used to open a business
30.Retained profit - ANSWER ✔ Profit which is kept back in the business and
used to pay for investment in the business.
31.Selling assets - ANSWER ✔ When a person or business sells assets it owns,
such as equipment or vehicles it no longer uses, in order to raise finance.
32.overdraft - ANSWER ✔ Occurs when money is withdrawn from a bank
account and the available balance goes below zero
33.Trade payables - ANSWER ✔ Money the business owes from supplies
purchased but not yet paid for
34.Loan capital - ANSWER ✔ money required to run a business which is raised
from loans rather than shares.
35.Share capital - ANSWER ✔ money raised from the sale of shares of a
limited company
36.Stock market flotation - ANSWER ✔ the process of a company making
shares available to the public for the first time on the stock market