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A Level Business Theme 1 Flashcards | StudBud
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A Level Business Theme 1
Gaining number based data yourself is...
PED is calculated by...
A Level Business Theme 1
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Answers
1
PED is calculated by...
%change in QD / % change in income
%change in QD / % change in price
%change in price / %change in QD
%change in QD / %change against equilibrium
2
Gaining number based data yourself is...
Quantitative, secondary
Qualitative, primary
Qualitative, secondary
Quantitative, primary
3
YED is calculated by
%change in QD / %change in income
%change in QD / % change in price
%change in price / % change in income
%change in income / % change in QD
4
A change in supply is not a result of
Changes in Government Subsidies
Changes in production costs
Changes in fashions and trends
Changes in technology
5
The three features of the design mix are...
Function, cost, aesthetics
Feel, look, price
Function, raw materials costs, aesthetics
Packaging, colour, price
6
Disequilibrium leads to...
Excess demand but not excess supply
Prices increasing
Prices decreasing
Excess demand or excess supply
7
Introducing a new product at a low price for the short term is called...
Pricing discrimination
Penetration pricing
Cost plus pricing
Price skimming
8
Franchises do not...
Allow for changes to products / service delivery
Offer training and support
Have a licence holder
Have a franchiser and a franchisee
9
The leadership type which considers the welfare of employees primarily is...
Democratic Leadership
Autocratic Leadership
Lassez-Faire Leadership
Paternalistic Leadership
10
Which of these is not a benefit to building a strong brand
Adding value
Ability to charge a higher price
Ability to provide decreased customer service levels
Ability to reduce price elasticity of demand
11
The motivation theory describing hygiene factors and motivators is...
Herzberg's Two-Factor Theory
Taylor's Scientific Management Theory
Mayo's Theory of Human Relations
Maslow's Hierarchy of needs
12
A change in demand is normally not a result of
Changes in prices of complements
Changes in consumer incomes
Changes in prices of substitutes
Indirect taxes
13
Introduction, growth, maturity, decline are features of...
Economic Cycle
Product Life Cycle
Bicycle
Industry Life Cycle
14
Product, Price, Place, Promotion are features of the...
Marketing Mix
Porters Mix
Boston Matrix
Ansoff Matrix
15
The number of people a person is directly responsible for / line manages is called the...
Chain of command
Span of control
Level of hierarchy
Subordinate
16
Collective bargaining is where...
A buyer asks for a cheaper price from the seller
Employers ask the government for a lower minimum wage
The sellers join to ask for cheaper raw materials
Employers and employees negotiate suitable work conditions
17
Market orientation is...
Places the needs of customers at the center of decisions
Capturing the niche market
A group of customers with similar characteristics
Capturing the mass market
18
The motivation theory focusing on total efficiency was...
Bowman's Clock Theory
Taylor's Scientific Management
Mayo's Theory Of Human Relations
Maslow's Hierarchy of needs
19
A two dimensional diagram showing attributes of rivals is called a...
Market Research Tactic
Market life cycle
Market Positioning Diagram
Market Map
20
When the business owner is totally responsible for the debts of the business they have...
Unlimited Liability
Limited Liability
Long term liabilities
Share Capital
21
The market share calculation is...
Revenue of business / revenue of market x100
Sales of a business / sales in the market x100
Total revenue - total cost
Revenue of business / revenue of market
