AS unit 1 Business Studies Questionnaire

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

1. Factors two things would cause a shift in supply?

  • Changes in costs of Production & changes in Government legislation Tax
  • Changes in Income & changes in FTP's
  • Changes in population & changes in population
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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. What is meant by Predator 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.
  • This occurs when a firm sets out to destroy (or weaken) the competition through low prices
  • This occurs when a firm sets out to destroy (or weaken) the competition through low prices

4. A cost that does change with output?

  • Overheads
  • Fixed Cost
  • Total Costs
  • Variable Costs

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

Comments

EmilyWearnee

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