A Level Edexcel Business Paper 1 with Questions and Answers – 100% Solved
above-the-line promotion - ✔✔✔-promotion that involves the use of media (newspapers, TV,
cinema, radio, internet and social media)
added value - ✔✔✔-the extra features that may be offered when selling a product which helps
to exceed customer satisfaction
administrative barriers - ✔✔✔-rules and regulations that make it difficult for importers to
penetrate an overseas market
agent/broker - ✔✔✔-an intermediary that brings together buyer and seller (travel and estate)
aim - ✔✔✔-what a business tries to achieve in the long term
articles of association - ✔✔✔-a document that provides information on the internal running of
the business
ASEAN - ✔✔✔-association of southern east Asia nations - 10 countries including Singapore and
Vietnam
assesment of a country as a production location - ✔✔✔-ease of doing business, infrastructure,
political stability, skills and availability of a labour force, natural resources, likely return on
investment and location in trading bloc
assessment of a country as a market - ✔✔✔-ease of doing business, infrastructure, disposable
income, political stability and exchange rate
autocratic leadership - ✔✔✔-leader makes all decision (army - needs to follow orders)
B2B - ✔✔✔-business to business (wholesaling) - COSCO wholesale
,A Level Edexcel Business Paper 1 with Questions and Answers – 100% Solved
B2C - ✔✔✔-business to consumer (retailer) - TESCO
barriers to entry - ✔✔✔-factors that make it difficult for new entrants from entering the market
below-the-line promotion - ✔✔✔-promotion that doesn't involve the use of the media
bonus - ✔✔✔-a payment in addition to wage
Boston matrix - ✔✔✔-2x2 model that analyses a product portfolio of a business according to its
market growth and market share (cash cow, star, question mark and dog)
brand name - ✔✔✔-a name, sign, symbol or other feature that allows consumers to identify the
goods of a business and differentiate it from rivals
brands - ✔✔✔-manufactorer brands (Heinz Beans), own-label (Tesco value beans) and generic
(carrots)
breaking-bulk - ✔✔✔-buying products in large quantities and selling them in smaller chunks
BRIC - ✔✔✔-Brazil, Russia ,India and China
centralisation - ✔✔✔-decision-making takes place in the core of the workplace (top-down)
certificate of incorporation - ✔✔✔-a document that declares that a business is allowed to
operate as a limited company
, A Level Edexcel Business Paper 1 with Questions and Answers – 100% Solved
chain of command - ✔✔✔-the way authority and power is organised in the workplace
choices - ✔✔✔-when a business has to choose between alternatives or resources
choosing promotion - ✔✔✔-cost, market type, product type, stage in product lifecycle, legal
factors and competitors promotion
code of conduct - ✔✔✔-a set of rules outlining the practices of an organisation
collective bargaining - ✔✔✔-a method used to determine conditions of work and terms of
employment through a worker's representative (trade union) and employer
commission - ✔✔✔-percentage payment on a sale made
common market/ single market - ✔✔✔-market where goods and services can more freely
among member countries.
comparative advantage - ✔✔✔-country should produce products and services that it can
produce more effectively than other countries
competition policy - ✔✔✔-government policy that exists to promote competition and prevent
high marketing power of businesses
competitive advantage - ✔✔✔-an advantage that helps a business to perform better than its
rivals
competitive advantage (4) - ✔✔✔-idea that a business should specialise in any area that it can
perform better than other rivals
above-the-line promotion - ✔✔✔-promotion that involves the use of media (newspapers, TV,
cinema, radio, internet and social media)
added value - ✔✔✔-the extra features that may be offered when selling a product which helps
to exceed customer satisfaction
administrative barriers - ✔✔✔-rules and regulations that make it difficult for importers to
penetrate an overseas market
agent/broker - ✔✔✔-an intermediary that brings together buyer and seller (travel and estate)
aim - ✔✔✔-what a business tries to achieve in the long term
articles of association - ✔✔✔-a document that provides information on the internal running of
the business
ASEAN - ✔✔✔-association of southern east Asia nations - 10 countries including Singapore and
Vietnam
assesment of a country as a production location - ✔✔✔-ease of doing business, infrastructure,
political stability, skills and availability of a labour force, natural resources, likely return on
investment and location in trading bloc
assessment of a country as a market - ✔✔✔-ease of doing business, infrastructure, disposable
income, political stability and exchange rate
autocratic leadership - ✔✔✔-leader makes all decision (army - needs to follow orders)
B2B - ✔✔✔-business to business (wholesaling) - COSCO wholesale
,A Level Edexcel Business Paper 1 with Questions and Answers – 100% Solved
B2C - ✔✔✔-business to consumer (retailer) - TESCO
barriers to entry - ✔✔✔-factors that make it difficult for new entrants from entering the market
below-the-line promotion - ✔✔✔-promotion that doesn't involve the use of the media
bonus - ✔✔✔-a payment in addition to wage
Boston matrix - ✔✔✔-2x2 model that analyses a product portfolio of a business according to its
market growth and market share (cash cow, star, question mark and dog)
brand name - ✔✔✔-a name, sign, symbol or other feature that allows consumers to identify the
goods of a business and differentiate it from rivals
brands - ✔✔✔-manufactorer brands (Heinz Beans), own-label (Tesco value beans) and generic
(carrots)
breaking-bulk - ✔✔✔-buying products in large quantities and selling them in smaller chunks
BRIC - ✔✔✔-Brazil, Russia ,India and China
centralisation - ✔✔✔-decision-making takes place in the core of the workplace (top-down)
certificate of incorporation - ✔✔✔-a document that declares that a business is allowed to
operate as a limited company
, A Level Edexcel Business Paper 1 with Questions and Answers – 100% Solved
chain of command - ✔✔✔-the way authority and power is organised in the workplace
choices - ✔✔✔-when a business has to choose between alternatives or resources
choosing promotion - ✔✔✔-cost, market type, product type, stage in product lifecycle, legal
factors and competitors promotion
code of conduct - ✔✔✔-a set of rules outlining the practices of an organisation
collective bargaining - ✔✔✔-a method used to determine conditions of work and terms of
employment through a worker's representative (trade union) and employer
commission - ✔✔✔-percentage payment on a sale made
common market/ single market - ✔✔✔-market where goods and services can more freely
among member countries.
comparative advantage - ✔✔✔-country should produce products and services that it can
produce more effectively than other countries
competition policy - ✔✔✔-government policy that exists to promote competition and prevent
high marketing power of businesses
competitive advantage - ✔✔✔-an advantage that helps a business to perform better than its
rivals
competitive advantage (4) - ✔✔✔-idea that a business should specialise in any area that it can
perform better than other rivals
