Tag: Business Studies

A large number of small businesses fail within the first two years.

Identify ONE reason why so many small businesses fail in the first two years.

Select ONE answer:

1. Rapid growth and over expansion
2. Having a detailed Business Plan
3. Good repeat business
4. Revenue higher than costs

Show the workings to arrive at your answer, and explain and justify your reasons:

A large number of small businesses fail within the first two years.

Identify ONE reason why so many small businesses fail in the first two years.

Select ONE answer:

1. Product not customer orientated
2. Having a detailed Business Plan
3. Good repeat business
4. Revenue higher than costs

Show the workings to arrive at your answer, and explain and justify your reasons:

Lucy started a business called StaffordWelly. It makes boots with a high heel to appeal to women and festival-goers.

Lucy wanted to expand StaffordWelly but needed additional capital. They appeared on the television programme SharkTank.

StaffordWelly has many variable costs when running the business.

Which one of the following is an example of a variable cost?

Select ONE answer:

1. Loan repayments
2. Salaries
3. Insurance
4. Raw materials

Show the workings to arrive at your answer, and explain and justify your reasons:

Lucy started a business called StaffordWelly. It makes boots with a high heel to appeal to women and festival-goers.

Lucy wanted to expand StaffordWelly but needed additional capital. They appeared on the television programme SharkTank.

Lucy needed to protect her design by using a patent. What is a possible benefit of a patent?
A patent ………

Select ONE answer:

1. Is an insurance policy that provides protection for 20 years
2. Prevents other businesses from using the brand name
3. Establishes sole rights to the use of a product
4. Ensures that a business will not make any losses

Show the workings to arrive at your answer, and explain and justify your reasons:

Lucy started a business called StaffordWelly. It makes boots with a high heel to appeal to women and festival-goers.

Lucy wanted to expand StaffordWelly but needed additional capital. They appeared on the television programme SharkTank.

Lucy needed to protect her design by using a patent. What is a possible benefit of a patent?
A patent ………

Select ONE answer:

1. Is an insurance policy that provides protection for 20 years
2. Prevents other businesses from using the brand name
3. Provides proof of ownership of an invention or process
4. Ensures that a business will not make any losses

Show the workings to arrive at your answer, and explain and justify your reasons: