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2. Define a Autocratic leader

  • take top-down decisions without consulting employees to find out their views. they may provide very little information on the reasons for the decision
  • A leader that makes employees contribute to decision making

3. What is a margin of safety

  • the amount by which sales can fall from their current level before reaching the break-even point
  • A margin used to keep profit safe
  • where sales can increase from their current level

4. A cost that change with the level of output

  • Fixed Costs
  • Overheads
  • Variable Costs
  • Expenditure

5. Why do firms use break even analysis

  • to calculate in advance the level of output needed to break even
  • to measure profit
  • to measure a loss over a period of time

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