Other questions in this quiz

2. A cost that change with the level of output

  • Fixed Costs
  • Variable Costs
  • Expenditure
  • Overheads

3. What is meant by psychological Pricing

  • For example selling a product at £49.99 instead of £50 makes customers think of it as less than £50
  • 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 different prices are charged for the same good or service

4. What is a definition of leadership

  • the process of influencing others to work willing towards an organisation's goals
  • being able to manage a team successfully to complete a task
  • being able to manage employees effectively

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

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

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