Markets and Theories

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1. What is Volume?

  • The amount of stock within a business
  • The amount of product sold
  • The quantity produced and sold
  • The amount of product produced
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2. What is a mass market?

  • An unsegmented market where lots of businesses contribute their products to market in the same way
  • A segmented market with lots of choice
  • An unsegmented market with no choice
  • A segmented market where one business contributes their product to sell

3. Which of these is an example of a Hygiene factor?

  • Involving staff in making decisions
  • Legislation
  • Work in Groups
  • Social Needs

4. Who believed that the welfare of staff was one of the most important aspects in a business?

  • Mayo
  • Taylor
  • Herzberg
  • Maslow

5. What is an advantage of a Mass Market?

  • Produce large quantities at a lower cost p/unit so higher sales and profit
  • Heavy advertising costs
  • There is lots of competition to participate in

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