Markets and Theories

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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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Other questions in this quiz

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

  • Mayo
  • Maslow
  • Taylor
  • Herzberg

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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