Practice Flashcards: GCSE Business: Growth, Competition and the Market | Zestly

Question 1

Market share

Accepted Answer

The percentage of total sales in a market held by one business. A common mistake is to divide the total market by the firm's sales instead of the other way around.

Question 2

Organic growth

Accepted Answer

Growth generated from within the business, such as opening new branches. Students often mistakenly believe this is the fastest way to grow.

Question 3

External growth

Accepted Answer

Growth achieved by joining with or buying other businesses. A common error is assuming this automatically leads to increased profits.

Question 4

Takeover

Question 5

Merger

Question 6

Economies of scale

Question 7

Unique selling point

Question 8

E-commerce

Question 9

Overtrading

Question 10

Market segmentation

Question 11

Competitive advantage

Question 12

Market size