AS unit 1 Business Studies Questionnaire

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  • Created by: jacob
  • Created on: 23-12-13 19:40

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. Define what is meant by Competitive Pricing

  • this strategy uses a low price to enter the market & gain market share
  • Some firms set their prices the same as their competitors
  • This occurs when a firm sets out to destroy (or weaken) the competition through low prices

3. A cost that does change with output

  • Overheads
  • Fixed Cost
  • Total Costs
  • Variable Costs

4. A cost that change with the level of output

  • Fixed Costs
  • Overheads
  • Variable Costs
  • Expenditure

5. Which one of these is a price factor that would effect demand

  • FTP's
  • cost of substitutes
  • how big it is

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