1. What must a business do to survive a Dynamic Market?
- Make more profit
- Be able to adapt to change
- Have a brand name
- Sell more of their product in order to maintain a profit
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2. Who believed that the welfare of staff was one of the most important aspects in a business?
3. 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
4. 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
5. What is Volume?
- The quantity produced and sold
- The amount of stock within a business
- The amount of product sold
- The amount of product produced
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