1
Q
what is demand?
A
amount of a good which consumers are willing to & able to buy at a given price
2
Q
name the 8 non-price factors which effect demand
A
- alternative brands
- changes in consumer income
- trends
- marketing & advertising
- branding
- population structure & demographics
- time of year & weather
- external shocks
3
Q
what happens to the quantity of demand is price goes down?
A
goes up
4
Q
what happens to quantity of demand if price goes up?
A
goes down
5
Q
change in price is always a change in ____________
A
movement
6
Q
name 5 non-price factors which cause a shift in demand
A
- consumer income
- season
- advertising
- external shocks
- trends
business y12
flashcards
Decks in class (32)
# Cards
-
calculations5
-
1.1.1 the market6
-
1.1.2 market research11
-
1.1.3 market positioning6
-
1.2.1 demand6
-
1.2.2 supply9
-
1.2.3 markets2
-
1.2.4 elasticities of demand12
-
1.3.1 product/service design9
-
1.2.5. income elasticity of demand (YED)22
-
1.3.2 branding & promotion15
-
1.3.3 pricing strategies15
-
1.3.4 distribution channels5
-
1.4.3 organisational design16
-
1.4.4 motivation in theory & practise23
-
1.4.5 leadership13
-
1.5.1 role of an entrepreneur14
-
1.5.6 moving from entrepreneur to leader4
-
1.5.4 forms of business19
-
1.5.3 business objectives9
-
1.5.5 business choices2
-
2.1.1 internal finance11
-
2.1.3 liability4
-
2.1.4 planning14
-
2.2.1 sales forecasting7
-
2.2.2 sales, revenue & costs11
-
2.2.4 budgets14
-
1.4.2 recruitment, selection & training13
-
2.4.1 production, productivity & efficiency9
-
2.3.1 profit14
-
2.3.2 liquidity7
-
2.4.2 capacity utilisation8
