buss1
- Created by: x12jjoseph
- Created on: 23-04-14 14:04
Other questions in this quiz
2. Working capital
- The income or sales that a business achieves in a period.
- The amount of money that a business has available to conduct its day-to-day activities
- Costs that vary directly in proportion to output
- The difference between total sales and total costs
3. Niche market
- The resources (land, labour, capital, enterprise) that go into producing goods and services
- Any place (e.g. physical, electronic) where buyers and sellers come together with a view to exchanging transactions
- A smaller part of a larger market in which customers have more specific needs and wants.
- The process of dividing a market into smaller sections (segments) segmentation which contain customers with similar needs and wants
4. Business objective
- The responsiveness of demand to a change in price or incomes
- A stated goal or target of a business
- A detailed description of a new or existing business, including the company’s strategy, aims and objectives, marketing & financial plan
- The cost of a decision as measured by the benefits foregone of the next best alternative
5. Patent
- The process by which new businesses are formed in order to offer products and services in a marke
- The right to be the only user of producer of a specified product or process
- A word, symbol, or phrase used to identify a particular company’s product and differentiate it from other companies’ products
- The cost of a decision as measured by the benefits foregone of the next best alternative
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