business
- Created by: Chloe
- Created on: 15-01-13 14:19
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Clues
- are factors that make it difficult for new businesses to enter a market. (8, 2, 5)
- are where (and when) buyers and sellers come together to decide on price and quantity bought and sold. They are not neccessarily physical locations. (7)
- Is a market whcih is dominated by few businesses (9)
- is a market with one seller. However, a business with a market share in excess of 25% is often referred to as having "monopoly" (8)
- is a measure of the value of godds and services produced by a nation over a period of time (8, 6)
- is a statement of how a government intends to finance its spending through taxation. This is done through a mix if direct taxes (such as income (6, 6)
- is the range of forces, outside the control of a business, which affect buyer and competition within markets. These include technological, legal, regulatory and social forces. (9, 11)
- is the tendency for customer to make repeat purchases of products that they are familiar with and trust (8, 7)
- Occurs in a market i which there are many businesses relative to the size of the market. All businesses sell similar products, with little product differentiation evident. (7, 11)
- UK government body that trys to protect the consumer from anti-competitive practices. It can impose significant fines on busiesses are found to be harming consumer interests through anti-competitive practices eg restricting supply or high prices (6, 2, 4, 7)
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