The Chase

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  • Created by: lxnxy_26
  • Created on: 21-02-18 10:48
The quantity of a product that producers are able to deliver within a specific time period is known as what?
Supply
1 of 42
Name one part of the supply chain
Manufacturing, raw materials, production, storage, delivery
2 of 42
What is the name for a line showing the amount of goods a firm wants to supply at different prices?
Supply curve
3 of 42
In business, a natural disaster is an example of what
External Shock
4 of 42
Give an example of an external shock
Natural disaster, recession,
5 of 42
Does a fall in supply increase or decrease price?
Increase
6 of 42
The amount paid by a customer for a good or service is known as
price
7 of 42
the plan for setting a products price for the medium to long term is known as
pricing strategy
8 of 42
name one of the two main pricing strategies
skimming or penetration
9 of 42
what is the name for a short term pricing offer
pricing tactics
10 of 42
what type of pricing strategy would involve lowering prices enough to drive other companies out of business
predatory
11 of 42
name one pricing strategy for existing products
cost plus, competitive, predatory , psychological
12 of 42
what is the most common pricing strategy for new innovative products
skimming
13 of 42
name one factor that will determine the appropriate pricing strategy
product differentiation, brand strength, amount of competition, price elastic of demand, stage in the product life cycle, and costs and need to make profit
14 of 42
customer demand for a product reacting sharply to a price change is known as what?
price sensitivity
15 of 42
name one of the 4 ps
price product place and production
16 of 42
what marketing strategy is used when trying to enter a market of homogenous products
penetration
17 of 42
how many types of leadership styles are there
4
18 of 42
what leadership style involves ordering employees and not listening to them?
autocratic
19 of 42
what leadership style would be considered as the most considerate of employee welfare?
paternalistic
20 of 42
in which leadership style would you delegate authority?
democratic
21 of 42
which leadership style involves one way communication
autocratic
22 of 42
which pricing strategy involves pricing at a discount in a highly competitive market?
competitive pricing
23 of 42
what pricing strategy involves a unit cost plus a percentage markup
cost plus pricing
24 of 42
passing authority down the hierarchy is known as what?
delegation
25 of 42
in what leadership style are employees given freedom over their work
laissez faire
26 of 42
what pricing strategy is used when here is no competition from the market?
skimming
27 of 42
the process through which people influence the values, behaviours and attitudes of others is known as
leadership
28 of 42
give a successful entrepreneur characteristic
resilience, determination, understanding of the market, passion, innovative,
29 of 42
name a non financial motive of becoming an entrepreneur
independence, home working, ethical stance , social entrepreneurship
30 of 42
paying workers per piece they produce is known as
piece rate
31 of 42
someone who makes a business idea happen is known as a
entrepreneur
32 of 42
obtaining external finance from many individual small investments is known as
crowdfunding
33 of 42
name a quality of a manager
directing, monitoring, problem solving, responsibility, accepts and conforms, plans, organises, co ordinates, maintains
34 of 42
name a quality of a leader
win followers, creates change, develops, original, innovates, motivates, inspires
35 of 42
name a factor that makes customers price sensitive
quality of product, how much he consumer wants the product, consumer income
36 of 42
name a personal barrier to entrepreneurship
lack of self esteem, risk averse, fear of failure, lack of technical skills
37 of 42
name an economic barrier to entrepreneurship
taxation or market entry regulations
38 of 42
what is a measurement of the extent to which a products demand changes when its prices change
price elasticity
39 of 42
name a financial barrier to entrepreneurship
lack of start up capital, lack of cheap labour, lack of investment
40 of 42
name a financial motive for becoming an entrepreneur
profit maximisation, profit satisficing
41 of 42
name a factor leading to a change in supply
cost of production, new technology, indirect taxes, subsidies, external shocks, physical constraints
42 of 42

Other cards in this set

Card 2

Front

Name one part of the supply chain

Back

Manufacturing, raw materials, production, storage, delivery

Card 3

Front

What is the name for a line showing the amount of goods a firm wants to supply at different prices?

Back

Preview of the front of card 3

Card 4

Front

In business, a natural disaster is an example of what

Back

Preview of the front of card 4

Card 5

Front

Give an example of an external shock

Back

Preview of the front of card 5
View more cards

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