1. what is added value?
- Spending more money to increase fixed costs
- The difference between input costs and value placed on product
- fixed costs + variable costs
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Other questions in this quiz
2. What is a market?
- A place that makes goods from raw materials
- where buyers and sellers meet to exchange goods
- An area where clothes are displayed
3. Which is NOT a method of adding value?
- Loyalty cards
4. What is the Commend economy?
- When the local economy is very high and businesses are growing
- When the goverment choses what products should be sold, the price, place, amount etc.
- When you have public and private sectors
5. What are the factors of production?
- Capital, Shipping, Leadership, Land
- Land, Labour, Capital, Enterprising skills
- Business plan, calculation, Land, profit
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