Which of these is the correct definition of Monopoly.

Exclusive control of the supply in a service

Which of these is the correct definition of Socio-economic groups

division of people according to class

What is the definition of market size?

The amount of consumers in a market segment

A certain amount of cash given to businesses to produce goods

Which of these is the correct definition of the first mover advantage?

A company in a new market has an advantage

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A-level Business Key Terms & Questions 10 Second Dash

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Includes A-level Business Key Terms and Questions According to the 5th Edition Edexcel Textbook. #Business #A-level

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Questions 21

Answers

1
Which of these is the correct definition of Monopoly.
Exclusive control of the income in a service
Nonexclusive control of the supply in a service
Exclusive control of the supply in a service
Nonexclusive control of the income in a service
2
equilibrium price can never change.
True
False
3
Competition affects businesses positively.
True
False
4
Product design is not important!
False
True
5
Have free points :) ;)
Nay
Yay
6
Businesses can re-position themselves on a market map.
True
False
7
All businesses should do Market Research.
True
False
8
Trends leads to a direct change in supply.
False
True
9
What of these is the Odd One Out?
Thomas Cook
Ryan Air
Jet2Holidays
10
Questionnaires are part of primary research.
True
False
11
Which of these is the correct definition of Socio-economic groups
division of people according to class
division of people according to gender
division of people according to time
division of people according to age
12
What is the definition of market size?
The amount of customers in a market sector
The amount of consumers in a market segment
The amount of competitors in a market segment
The amount of consumers in a market sector
13
What is the odd one out? hint: look at the letters not the word
degree of competition
Views of those in control
Nature of product
Policies
14
What is a subsidy?
A certain amount of cash given to customers to buy products
A certain amount of cash given to businesses to produce goods
A certain amount of time given to businesses to sell products
A certain amount of Time given to customers to buy products
15
What is the Odd One Out?
Economic Growth
Flexibility
Social Changes
Innovation
16
Competition affects consumers positively.
False
True
17
Which of these is the correct definition of the first mover advantage?
A company in an existing marker has an advantage
A company in a new market has an advantage
A company in an existing market has a disadvantage
A company in a new market has a disadvantage
18
Which of these are not examples of complementary goods?
Bowls & Food
Beds and Tables
Milk and Cereal
Tea & Cake
19
Investment is not a way businesses can adapt to Market Changes.
False
True
20
Risk and Uncertainty are the same.
False
True
21
What does USP stand for
Unique Seling Point
Uniqe Seling Point
Unique Selling qoint
Unique Selling Point

A-level Business Key Terms & Questions 10 Second Dash Flashcards | StudBud