96795
Descripción
Test por hutchinson184, actualizado hace más de 1 año
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Creado por hutchinson184
hace más de 11 años
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Pregunta 1
Pregunta
What is a stakeholder?
Respuesta
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An individual or group of people who have an interest in a business and what it does
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An individual who has bought shares in the business
Pregunta 2
Pregunta
What is the private sector?
Respuesta
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A business that is owned by one/a couple of people and is usually a family business. Only family and friends can buy shares of the business
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Businesses that are owned by by a private individual (a member of the public)
Pregunta 3
Pregunta
What is the public sector?
Respuesta
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Businesses that are owned and controlled by the government on behalf of its citizens. They are funded by the government usually through money raised through taxes
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Businesses that are owned by shareholders and can be bought on the stock market
Pregunta 4
Pregunta
What is privatisation?
Respuesta
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This is when a company that is owned by a private individual is put on the stock market for shareholders to buy.
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This is when the government used to own businesses such as gas,water,electricity etc that were therefore in the public sector but were sold back to the private sector
Pregunta 5
Pregunta
What is the primary sector?
Respuesta
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Companies that are owned by the the government
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Companies and people working to extract raw materials from the earth
Pregunta 6
Pregunta
What is the secondary sector?
Respuesta
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Businesses that are owned by a more than one/ a group of individuals
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Businesses that turn raw materials into finished, processed & probably packaged products
Pregunta 7
Pregunta
What is the tertiary sector?
Respuesta
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Companies and people who provide services either to the public or other businesses
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Companies and people working to extract raw materials from the earth
Pregunta 8
Pregunta
What is supply?
Respuesta
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The quantity of a product consumers are willing and able to purchase at any price level
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The quantity that a supplier of a products is willing and able to supply at each level
Pregunta 9
Pregunta
Why does price affect supply?
Respuesta
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If prices are low then supply is less as it is less profitable
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If prices are high then supply is more likely as more profit will be made
Pregunta 10
Pregunta
Why does cost affect supply?
Respuesta
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As costs become higher there will be a rise in supply as the firm will want to make more money to cover them
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As costs become cheaper, there will be a rise in supply as the firm will be able to produce more from its budget
Pregunta 11
Pregunta
How do taxes affect supply?
Respuesta
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An increase in taxes means an increase in the businesses costs so therefore a decrease in supply
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An increase in taxes means an increase in the businesses costs so therefore a increase in supply
Pregunta 12
Pregunta
How do government subsidies affect supply?
Respuesta
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If the government give businesses a payment for every unit supplied then the business is likely to increase supply
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If the government give businesses a payment for every unit supplied then the business is likely to decrease supply
Pregunta 13
Pregunta
What happens to the supply curve when supply increases?
Respuesta
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it moves to the right
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it moves to the left
Pregunta 14
Pregunta
What happens to the supply curve when supply decreases?
Respuesta
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Curve moves to the right
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Curve moves to the left
Pregunta 15
Pregunta
What is demand?
Respuesta
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The quantity that a supplier is willing and able to supply at each price
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The quantity of a product consumers are willing and able to purchase at any price level
Pregunta 16
Pregunta
How does price affect demand?
Respuesta
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If price goes down then demand will decrease
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If price goes up then demand will decrease
Pregunta 17
Pregunta
How will substitute products affect demand?
Respuesta
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If substitute prices decrease then demand for your product will decrease
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If substitute prices decrease then demand for your product will increase
Pregunta 18
Pregunta
How will complimentary products affect demand?
Respuesta
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If complimentary products prices increase then demand for your product decreases
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I complimentary products prices increase then demand for your product will increase
Pregunta 19
Pregunta
How will income affect demand?
Respuesta
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If your income increases then demand will decrease
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If your income increases then demand will increase
Pregunta 20
Pregunta
How will promotion affect demand?
Respuesta
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If the amount of promotion increases then demand will increase
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If the amount of promotion decreases then demand will increase
Pregunta 21
Pregunta
How does taste & fashion affect demand?
Respuesta
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If a product is in fashion then demand will decrease
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If a product is in fashion then demand will increase
Pregunta 22
Pregunta
How does wealth affect demand?
Respuesta
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If a person has higher wealth then they're will be higher demand
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If a person has higher wealth then they're will be lower demand
Pregunta 23
Pregunta
What is excess demand?
Respuesta
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Where the quantity demanded of a product is greater than the quantity supplied at a given price
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When the quantity supplied of a product is greater then the quantity demanded at a given price.
Pregunta 24
Pregunta
What is excess supply?
Respuesta
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When the quantity supplied of a product is greater than the quantity demanded at a given price
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When the quantity demanded of a product is greater than the quantity supplied at a given price
Pregunta 25
Pregunta
What is equilibrium?
Respuesta
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When demand is equal to supply
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When demand and supply are not equal
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