Other questions in this quiz

2. What is meant by Cost-plus Pricing?

  • This is the method of pricing which considers the toal cost per unit and then adds on a percentage to arrive at a final price.
  • For example selling a product at £49.99 instead of £50 makes customers think of it as less than £50

3. A cost that does change with output?

  • Overheads
  • Fixed Cost
  • Total Costs
  • Variable Costs

4. Define a Autocratic leader ?

  • 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
  • A leader that makes employees contribute to decision making

5. Which one of these is a non profit motive for becoming an entrepreneur?

  • Being self satisfied
  • making profit
  • getting respect



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