OCR Transport Definitions 2011
Match up the definition to the term to test yourself!
- Created by: Blythe
- Created on: 23-01-11 15:24
Other questions in this quiz
2. economies of scale
- benefits gained through producing on a larger scale
- small firms
- a way of measuring how large and efficient your firm is
3. cross-subsidisation
- where firms across the market only get a percentage share of a subsidy
- a business practice where revenue from profitable activities is used to support loss-making ones
- where the government gives a subsidy to more than one firm
4. profit satisficing is where a firm makes a reasonable level of profit that satisfies its stakeholders without maximising profit
- True
- False
5. average cost
- price x quantity
- unit cost of production
- total revenue from sales
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