1. What is Value?
- Total amount spent by the customers buying products
- How much a product is worth before tax
- How much a product is sold for
- Price - Raw material costs
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Other questions in this quiz
2. 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
3. Which one of the following will a business not use branding for?
- To target consumers
- Create consumer loyalty
- Differentiate their product from other brands
- Charge a premium price for their product
4. What is the formula for market share?
- Sales of business/ Total sales x 100
- Sales of whole market/Sales of business
- Sales of whole market/Sales of business x 100
- Quantity produced/Sales of whole market x 100
5. Who believed that people dislike work and need close supervision?
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