Marketing Pt1
Price qaulity and tradition are all factors that affect..................
Consumer behaviour
Without this function of business, even the best-produced goods would not reach customers.
Marketing
TRUE OR FALSE
The cottage industry is a home-based venture
True
This type of business is owned and managed by one person and is the simplest form of business ownership.
What is a sole proprietorship?
The Market structure that comprise that will comprise of group of Banks( Few Sellers, Many Buyers) is.....
Oligopoly
Name 3 factors that affect Demand
Price of substitutes, expectation in price changes, taste and fashion, income, government, population.
Differentiate between capital intensive production and Labour intensive production.
Capital intensive production refers to production methods that require a high level of investment in capital equipment and technology, rather than labor.
On the other hand, Labour intensive is when products are mainly produced by human workers.
3 features of a specialty contract
Signed, Sealed, Delivered
A retailer offers Lay Away plans to its customers. The customer will have possession of the item at which point.......
After the final payment has been made.
Explain the stages in the Product Life Cycle.
Introduction, Growth, Maturity, Decline
Transporting goods from the factory to shops is part of this level.
What is tertiary production
4 main types of leaders.
Automatic, Laissez-faire, Democratic, Charismatic
When the supply of a good falls in an economy but there is increasing demand which of the following is most likely to occur?
a. Prices will increase
b. Prices will decrease
c. Prices will remain the same
d. Prices will be set by the government
A. Prices will increase
Give 4 reason for packaging.
1. Promotes the product. 2. enhances the appearance of the product. 3. protects the product. 4. preseves the product. 5. preserves the lifespan. 6. prevents health hazards. 7. consumer convenience handling.
This factor of production refers to the physical and mental effort of workers.
What is labour?
This type of business is owned by two or more people who share profits, losses, and responsibilities.
What is partnership?