1
Q
What is a market?
A
- a market is any place that brings buyers and sellers together to trade at a agreed price
2
Q
How are prices determined in a market
A
-The interaction between supply and demand
- based on this interaction with buyers sellers will adjust their prices until there is an equilibrium price and quantity that works for both parties
3
Q
What are the 4 diagrmans that can be used to show the causes and consequences to the non-price factors of demand and supply?
A
-a rise in demand
-a fall in demand
-a fall in supply
-a rise in supply
4
Q
A
5
Q
A
Business A Level Edexcel
flashcards
Decks in class (16)
# Cards
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Unit 1.1125
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unit 1.1216
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Unit 1.1311
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Unit 1.2112
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Unit 1.2213
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unit 1.235
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unit 1.24 PED19
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INCOME ELASTICITY OF DEMAND UNIT1.255
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THE DESIGN MIX UNIT 1.31 and PROMOTION 1.3227
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PRICING STRATEGY UNIT 1.33 AND DISTRIBUTION 1.3426
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MARKETING STRATEGY 1.35 & APPROACHES TO STAFFING 1.4130
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RECRUITMENT SELECTION AND TRAINING 1.42 AND ORGANISATION DESIGN 1.4313
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Unit 1.4.4MOTIVATION IN THEORY AND LEADERSHIP 1.4.519
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UNIT 1.5.1 Role Of An Entrepreneneur And 1.5.2 ROLE OF AN ENTREPRENEUR13
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UNIT 1.5.3 BUSINESS OBJECTIVES14
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2.1.1 Internal Finance11
