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Giving you the actual figures, so you can make a comparison
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Relative numbers
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Absolute numbers
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Index numbers
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When the figures are not shown, but you can see how the values relate to each other- Index numbers
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Tabulated data: When you have worked out the mean, [blank_start]median[blank_end], mode, range and the [blank_start]average[blank_end] of the numbers
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Average
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Range
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Table
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Index
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Mean
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Mode
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Table
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Median
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Index numbers: They give the researcher a picture of the [blank_start]average[blank_end] change in a group of variables over time
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Relative
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Absolute
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Average
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Many businesses complying to supply goods to numerous consumers. sometimes called 'price takers'. E.g. fruit and vegetable markets
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Monopolistic competition
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Perfect competition
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Oligopoly competition
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Monopoly competition
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[blank_start]Oligopoly[blank_end] competition: A few large dominant businesses- each business knows that its actions will affect other businesses. E.g. Motor vehicle manufacturing and food
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Monopoly competition: A market in which only one business operates. The business has significant control and power to set prices. E.g. internet, landline and water providers
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What types of integration are used in business?
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Increasing the sales of an existing product in its current market and taking sales away from competition
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Product development
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Diversification
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Market development
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Market penetration
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Entering new markets with new products is known as?
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Diversification
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Market development
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Product development
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Market penetration
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The dominant company in the market- usually the firm with the highest sales- Market leader
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Market Followers- These are firms that seek a 'quiet life'- knowing that they lack the size or drive to become market [blank_start]leader[blank_end], they often seek to make enough profit to survive.
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Leader
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Challenger
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Nicher
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Follower
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Market [blank_start]nicher[blank_end]- Smaller, but sometimes very profitable businesses that operate in a narrowly defined segment of the market
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Which of these taxes is added to the price of most products before purchase?
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Value added tax (VAT)
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Corporation tax
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Income tax
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National insurance tax
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The rate at which the general level of prices for goods and services is rising, and consequently, the purchasing power of currency is falling
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Exchange rates
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Interest rates
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Inflation
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What is the current interest rate? (the interest rate being the cost of borrowing money)
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These involve quotes and tariffs that come into operation when the UK trades with countries outside of the [blank_start]EU[blank_end]
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The sales of goods act- This states that goods must be of merchantable quality, [blank_start]fit for purpose[blank_end] and as described by the manufacturer
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Office of [blank_start]fair[blank_end] trading- This agency oversees consumer protection in the UK on a national level- offering advice to consumers and where necessary, prosecuting companies that are thought to be adopting unfair practices.
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Which company monitors all advertisement media, except that on television and radio- to ensure that it is 'legal, decent, honest and truthful'.