Pearson Edexcel · GCSE · 1BS0
Business — Keywords & Key Terms — Definitions Glossary (2026)
Pearson Edexcel GCSE (9–1) Business (1BS0)
Topic-by-topic keywords, key terms and definitions for precise exam language—separate from our revision checklists (topic coverage) and formula sheets (equations).
Keywords & Key Terms — definitions
Examiner-style keywords and definitions organised by syllabus topic. Terms are tagged Essential (start here), Core (typical exam standard), and Advanced for harder distinctions — tick each row when you can recall it. Your progress is saved in this browser for this list.
Pearson Edexcel GCSE Business (1BS0)
Pearson Edexcel GCSE Business (1BS0)
Pearson Edexcel GCSE (9–1) Business (1BS0)
Aligned to Pearson Edexcel 1BS0: Paper 1 (Investigating Small Business — enterprise, spotting opportunity, putting a business idea into practice, making the business effective, understanding external influences) and Paper 2 (Building a Business — growth, marketing mix, operations, finance, human resources).
Mark schemes: Pearson rewards application — every analysis point must be linked back to the case-study business by name. Calculations must show formula → substitution → unit. Examiner reports flag generic 4Ps lists and missing units on break-even and margin answers.
Active recall: 0 / 24 terms ticked
| Recalled | Topic | Level | Keyword | Definition |
|---|---|---|---|---|
| Investigating small business | Essential | Enterprise | Willingness to take a calculated risk to start or grow a business. | |
| Investigating small business | Core | Stakeholder | Anyone with an interest in the business — owners, employees, customers, suppliers, community. | |
| Investigating small business | Core | USP | Unique Selling Point — what differentiates a product from competitors. | |
| Investigating small business | Core | Market segmentation | Dividing a market by demographics, location, lifestyle or behaviour. | |
| Investigating small business | Advanced | Business plan | Document setting out aims, market, finance and operations to guide decisions and secure funding. | |
| Marketing mix (4Ps) | Essential | Marketing mix (4Ps) | Product, Price, Place, Promotion — coordinated to satisfy the target market. | |
| Marketing mix (4Ps) | Core | Product life cycle | Introduction, growth, maturity, decline — extension strategies prolong maturity. | |
| Marketing mix (4Ps) | Core | Pricing strategies | Penetration, skimming, competitive, cost-plus — chosen to fit the objective. | |
| Marketing mix (4Ps) | Core | Distribution channel | Route from producer to consumer — direct, retailer, wholesaler, e-commerce. | |
| Marketing mix (4Ps) | Advanced | Promotional mix | Advertising, sponsorship, sales promotions, PR and digital — combined to reach target audience. | |
| Operations & finance | Essential | Revenue | Income from sales = price × quantity sold. | |
| Operations & finance | Core | Profit | Total Revenue − Total Costs. | |
| Operations & finance | Core | Fixed vs variable costs | Costs unchanged by output vs costs that rise with output. | |
| Operations & finance | Core | Break-even output | Fixed Costs ÷ contribution per unit (Selling Price − Variable Cost per unit). | |
| Operations & finance | Core | Gross profit margin | (Gross Profit ÷ Revenue) × 100 — efficiency of core trading. | |
| Operations & finance | Advanced | Cash flow | Timing of money in and out — liquidity, distinct from profit. | |
| Human resources | Core | Recruitment | Attracting and selecting suitable applicants — internal vs external sources. | |
| Human resources | Core | Training | Induction, on-the-job and off-the-job — develops skills and motivation. | |
| Human resources | Core | Motivation | Drivers of effort and commitment — financial (pay, bonus) and non-financial (recognition, autonomy). | |
| Human resources | Advanced | Organisational structure | Hierarchy, span of control and chain of command — affects communication and decision-making. | |
| External influences | Core | Interest rates | Cost of borrowing — higher rates reduce demand for credit-funded purchases. | |
| External influences | Core | Exchange rates | Price of one currency in another — affects export competitiveness and import costs. | |
| External influences | Core | Legislation | Consumer, employment and environmental laws shaping how a business operates. | |
| External influences | Advanced | Ethics vs profit trade-off | Choosing between ethical practice and short-term profit — affects brand and stakeholder trust. |
Pair this with our revision checklists, formula sheets hub and past paper finder.
Business (1BS0) — Keywords & Key Terms FAQ
- What is on this Pearson Edexcel GCSE Business keywords and key terms list?
- It is a topic-organised glossary of important business terms with short, exam-style definitions aligned to Pearson Edexcel GCSE (9–1) Business (1BS0) (1BS0). It is designed for “define”, “state”, “outline” and “explain” questions where precise vocabulary earns marks.
- How should I use this Business glossary alongside past papers?
- Tick terms when you can recall them without reading the answer, then check your wording against mark schemes. Pair vocabulary practice with past papers for GCSE Business (1BS0) so you apply terms in context.
- Is this the same as a revision checklist or a formula sheet?
- No. Revision checklists help you track which syllabus topics you have covered and your confidence—separate pages on Tutopiya. Formula sheets summarise equations and quantitative relationships. This page is only a definitions and key-terms glossary for Business.
- Can I download this Business keywords and key terms list for free?
- Yes. After a quick free sign-up you can download a UTF-8 CSV (opens in Excel or Google Sheets) or open a print-friendly page and save as PDF. Browsing the list on the page is free.
- Is this Business list aligned to the 1BS0 specification?
- Topic groupings and wording follow Pearson Edexcel GCSE (9–1) Business (1BS0) for Pearson Edexcel GCSE. Always confirm final learning objectives and any regional options in your official specification and recent examiner reports for your exam session.
- Why focus on definitions instead of full notes?
- Mark schemes reward correct technical terms and clear links between ideas. A compact glossary lets you drill the exact language examiners expect for Business at GCSE, separate from longer notes or topic trackers.