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
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