Introduction to Business Studies 0.0 / 5 ? Business StudiesOverallASOCR Created by: LiamCumminsCreated on: 25-02-14 17:27 When a company deals in larger quantities and as a result will reduce their average cost Economics of Scale 1 of 10 Finding out information about the market you operate in Market Research 2 of 10 A type of market research that aims to find out people's opinions and feelings rather than information that can easily be shown in numbers Qualitative 3 of 10 This research is related to information that can be shown in numbers and amounts Quantitative 4 of 10 What are Price, Place, Promotion and Product part of? Marketing Mix 5 of 10 Where buyers and sellers come together to exchange goods and services Marketplace 6 of 10 Four-six firms dominating the market Oligopoly 7 of 10 Is the next best alternative that you have missed out on Opportunity Cost 8 of 10 Items sold by a business which have a physical presence Goods 9 of 10 Considered the correct course of action Ethical 10 of 10
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