Markets and Theories

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1. What is a disadvantage of a Niche Market?

  • They cater for the needs of specific individuals
  • Very small and unable to support competing firms
  • A large sector of the market and firms challenge them
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2. Which theory involves Scientific Management?

  • Herzberg
  • Maslow
  • Taylor
  • Mayo

3. Technological development such as supermarkets offering click and collect in London Tube Stations is a form of Market Growth, but which form?

  • Social
  • Economic
  • Innovation
  • Legislation

4. What are Dynamic Markets?

  • A type of business plan that helps a business to work out the social changes
  • A very small market
  • Markets that are likely to change, they do not remain the same over time
  • A new idea for a business

5. What must a business do to survive a Dynamic Market?

  • Make more profit
  • Sell more of their product in order to maintain a profit
  • Be able to adapt to change
  • Have a brand name

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