1. Definition Term 1 A 2 B C 3 D E 4 F G H 5
Show your answer by drawing a line from the definition on the left with the correct term on the right.
Definition 1 2 3 4 5
Term A B C D E F G H

2. Term Definition 1 2 3 4 5 A Franchise B Quantitative Research C
Show your answer by drawing a line from the definition on the left with the correct term on the right.
Definition
Research that takes the form of attitudes, beliefs and opinions of people. Will require open questions that enable people to respond fully. 1
The way in which a business convinces a customer to pay significantly more for a product or service than it costs to produce. There are a variety of techniques business use. 2
A method of analysing the market and potential competitors using two product attributes or customer requirements. For example, cheap vs expensive and modern vs traditional. 3
An established business operation which can be operated by a someone in return for an investment and share of the profit. 4
A set of potential customers within a market who have a particularly common trait (e.g. single females aged 25 to 30). This enables businesses to promote products and services to particular groups in a way that appeals to them 5
Term A
Franchise B
Quantitative Research C
Added Value D
Market Segment E
Qualitative Research F
Entrepreneur G
Market Map H
Market

3. January Februry Total Receipts Fixed Costs Variable Costs Total Costs
The following table shows the costs, revenues and profits for a business for 2 months of the year. Fill in the four blanks to complete the table.
January
Februry
Total Receipts
Fixed Costs
Variable Costs
Total Costs
Profit/Loss

4. The sum of Fixed and Total Variable cost added together.
The following table shows the costs, revenues and profits for a business for 2 months of the year. Fill in the four blanks to complete the table.
January
February
Total Receipts
Fixed Costs
Variable Costs
Total Costs
Profit/Loss
This the money taken by the business by selling goods or services to customers
Costs that do not increase as a business makes more of a product egg cooker, rent
Costs that increase with every sale eg the bread & burger in a hamburger
Profit if there is a positive number when you take Total Costs from Total Receipts. Otherwise it’s a loss.
The sum of Fixed and Total Variable cost added together.

5. The sum of Fixed and Total Variable cost added together.
The following table shows the costs, revenues and profits for a business for 2 months of the year. Fill in the four blanks to complete the table.
January
February
Total Receipts
5000
Fixed Costs
3725
Variable Costs
2000
Total Costs
5275
6225
Profit/Loss
1775
This the money taken by the business by selling goods or services to customers
Costs that do not increase as a business makes more of a product egg cooker, rent
Costs that increase with every sale eg the bread & burger in a hamburger
Profit if there is a positive number when you take Total Costs from Total Receipts. Otherwise it’s a loss.
The sum of Fixed and Total Variable cost added together.

6. The sum of Fixed and Total Variable cost added together.
The following table shows the costs, revenues and profits for a business for 2 months of the year. Fill in the four blanks to complete the table.
January
February
Total Receipts
5000
8000
Fixed Costs
3725
Variable Costs
2000
2500
Total Costs
5275
6225
Profit/Loss
-275
1775
This the money taken by the business by selling goods or services to customers
Costs that do not increase as a business makes more of a product egg cooker, rent
Costs that increase with every sale eg the bread & burger in a hamburger
Profit if there is a positive number when you take Total Costs from Total Receipts. Otherwise it’s a loss.
The sum of Fixed and Total Variable cost added together.

7. Receipts
Jan
Feb
Mar
Apr
Sale of Goods 80 60 70
Rental Income 10
TOTAL INCOME
110 90
Expenditure
Materials 50 40
Energy costs 5 20
Wages
Transport 15
TOTAL EXP 75
135 95
NET CASH FLOW 35
(45)
Opening balance
Closing balance 30

8. Receipts
Jan
Feb
Mar
Apr
Sale of Goods
Rental Income
TOTAL INCOME
Expenditure
Materials
Energy costs
Wages
Transport
TOTAL EXP
NET CASH FLOW
Opening balance
Closing balance