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PRODUCTIVITY is a measurement of a firm's efficiency by measuring outputs in relation to inputs.
LABOUR PRODUCTIVITY is a measure of the output per worker over a given time period
LABOUR TURNOVER is the proportion of employees leaving a business in a given time period
ABSENTEEISM is the proportion of…

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INELASTIC means that the consumer is insensitive to price change
ELASTIC means that the consumer is sensitive to price change
COMPETITIVENESS is the ability of a business to succeed in its own market
OLIGOPOLISTIC is a market in which a few companies have a dominant share
MONOPOLY is a market…

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BS 5750 A british standards award granted to organisations that possess quality assurance systems that
meet the standards set.
ISO 9000 The international standard of quality assurance that is equivalent to the BS 5750.
CUSTOMER SERVICE Identifying and satisfying customer needs and delivering a level of service that meets


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