AS unit 1 Business Studies Questionnaire

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  • Created by: jacob
  • Created on: 23-12-13 19:33

1. Define a Paternalistic Leader?

  • behave rather as a parent might in making family decisions. They consult at every level and explain their reasons, but take the final decision themselves.
  • guide rather than dictate, consulting widely and encouraging everyone to participate in the decision making process.
  • take top-down decisions without consulting employees to find out their views. they may provide very little information on the reasons for the decision
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2. What is a margin of safety?

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

3. Define what is meant by Penetration Pricing?

  • this strategy uses a low price to enter the market & gain market share
  • this strategy uses a high price to enter the market. Even though the price is high, some people may still be eager to try a new product once sales from the group of people disappear the price of the product can decrease to attract new customers.

4. Which one of these is a motive for becoming an entrepreneur?

  • Cars
  • Money
  • Woman

5. What is the formula for revenue?

  • profit- sales
  • profit x fixed cost
  • price x quantity sold
  • cost of sales x price

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EmilyWearnee

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