unit 3 building a business

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1. what is a fixed cost?

  • this is the fixing cost for equipment
  • these are costs that don't change with output
  • these are costs that change with output
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2. whats the order of the product life cycle?

  • 1. introduction 2. growth 3. maturity 4. decline
  • 1.growth 2. introduction 3.decline 4. maturity
  • 1. introduction 2.maturity 3. growth 4. decline

3. what is outflows in a business?

  • this is money going out a business such as wages and bills
  • money spent on the building of the business

4. why is repeat purchase so important?

  • it increases the amount of sales of the product and less risk of declining
  • because you get to know the customer
  • because then we know the customer approves

5. how can you improve cash flow?

  • you have to make the outflow decrease by minimising wages/bills etc.
  • you increase the outflow
  • you pay the staff better wages



A handy resource to check progress and make a change during a period of revision. Some of the questions are quite tricky and it will highlight areas that still need to be revised.

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