Business Studies Revision Questions, Gcse, Business and People

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  • Topic: Tertiary sector of the economy, Three-sector hypothesis, Business
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Year 10 Revision guide A292 Business and People

1. Explain two reasons why businesses exist - use relevant examples to illustrate your answer. Businesses exist because without them many people would be unemployed because businesses supply many people with jobs, this is crucial because it gives money to the workers and enables the workers to pay for there family’s. Businesses exist because create products that are needed in daily life for example “Dell” creates laptops and desktops that people use daily for there businesses or work etc…. 2. List four business stakeholders and briefly outline their objectives



3. Choose two stakeholders in a firm such as Marks and Spencer Plc - explain why their objectives are different and how might stakeholder conflict arises?

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4. Using the example above, explain how a business might try to respond to the conflict between stakeholders.
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6. In each of the following cases, select and explain appropriate business objectives. (bearing in mind that objectives change over time)

a - A large mobile phone provider such as Orange

I think that oranges objective would to be to expand to other parts of Europe which have a high phone rate so that they are able to make more income and so that they can employ more people, to lower the unemployment rate.

b - A small florists which has recently been opened in Woodbridge. A small florist shops first objective should be survival because it is not well known with the public and it should keep accurate financial records so that it can see which flours are most popular. A small flourist wont sell flours as cheap supermarkets therefore the florist should give more personal service and should expand on the variety of flours. 7. Explain under what circumstances business objectives might change. If the objective for the first year was to survive, then a paper company may want to expand and open new branches in other areas of the UK to be closer to clients. This would make profit because there would be more sales staff to sell paper to other areas in the UK.

8. Describe how the following might result in a change of business objectives:

A small, independent organic food business in the thoroughfare - a new supermarket opens up on the outskirts of Woodbridge

The prices of the supermarket will be much cheaper than the organic food store, the organic food store may want to improve on customer service and provide a more personal feel than the supermarket. The organic food store may also want to bring out a bigger variety of organic food than the supermarket so that customers shop at the organic food shop specifically for organic food. These objectives are things that supermarkets would struggle to achieve, this is why it is important for small businesses to target these areas. 9. Explain, using examples, what is meant by:

The Primary sector
The primary sector is the sector were raw materials are mined, quarried or found. The primary sector is the first sector of the chain. The primary sector gives raw materials to the...
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