1. Which one of these is a price factor that would effect demand?
- cost of substitutes
- how big it is
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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?
- 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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