:)
:D
:S
:/
:(
100
What is the formula for % change?
new - old
-----------
old
x 100
100
what is a - of sale of assets as a form of internal finance?
no guarantee product will be sold, sell at a loss if desperate need of cash
100
what is a variable cost?
a cost that changes with output eg supplies
100
'We have hybrid cars, now hybrid planes are coming' - what stage of the product life cycle are hybrid planes in?
development
100
what is the formula for demand?
the amount consumers are willing and able to pay for a product at any given price
200
what happens are the equilibrium price?
demand and supply are equal
200
what is psychographic segmentation?
grouping customers according to their attitudes, lifestyle and opinions
200
What is the formula for market share?
sales of a business / total sales in a market
x 100
200
how could a business reduce their break even point?
increase revenue or decrease costs
200
what is market orientation?
a business that is led by the market
300
what is quota sampling?
segmenting the target market into a number of groups that share characteristics
300
what can cause a change in supply?
-tech
-changes in cost of production
-taxes
-subsidies
-external shocks
300
what is a disadvantage of market mapping?
- bias
- not every gap identified needs to be filled
- only two dimensional
- expensive to obtain info
300
if price is set ABOVE the equilibrium price, there will be excess _______
supply
300
what is the formula for gross profit?
revenue - cost of sales
400
'Dismissed as a joke, UK's first rice crop ripe for picking after hot summer'
Draw a supply and demand diagram for this
400
what creates uncertainity?
external factors
400
For which businesses is share capital an option as a source of finance?
LTD and PLC
400
what does liquidity mean?
businesses ability to pay back short term debts
400
Trump renewed his threat to impose 100% tariffs on non US-made:
A - movies
B - video games
A - movies
500
YED = -2.4
is the good inferior or normal? and is it elastic or inelastic?
inferior elastic
500
what is cost plus pricing?
adding a mark up to unit costs
500
One factor that impacts PED:
time
competition
branding
proportion spent on product relative to income
type of product
500
why are pencils income inelastic?
Even if income rises or falls, the quantity of pencils demanded stays relatively stable, as they are basic necessities rather than luxury goods
500
PED = -0.8
A business increases prices by 6%. What is the change in QD?
Was this a wise decision or no?
-4.8%
Yes, change in QD (decrease) is less than the change in price so revenue will increase