Production, costs and revenue 0.0 / 5 ? EconomicsThe company, revenue and costsProduction and efficiencyA2/A-levelAQA Created by: JMunnersCreated on: 04-04-17 12:14 4296381017 Across 1. when a firm faces a downward sloping demand curve for its product, it possesses the market power to set the price at which it sells the product (5, 5) 6. a productive organisation which sells its output of goods or services commercially (4) 7. the rate by which output changes if the scale of all factors of production is changed (7, 2, 5) 9. making something entirely new that did not exist before (9) Down 1. an establishment, such as a factory, a workshop or a retail outlet, owned and operated by a firm (5) 2. a firm which is so small that it had to accept the ruling market price (5, 5) 3. addition to total cost resulting from producing one additional unit of output (8, 4) 4. when a firm faces a downward sloping demand curve for its product, it possesses the market power to set the quantity of the good it wishes to sell (8, 6) 8. the difference between total sales revenue and total cost of production (6) 10. automatic control where machine operate other machines (10)
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