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AAT Level 3 > BUAW - Micro-economics > Flashcards

BUAW - Micro-economics Flashcards

1
Q

In a demand curve what happens when demand increases?

A

Shift to right

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2
Q

In a demand curve what happens with a decrease in demand?

A

Shift to the left

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3
Q

What is the acronym for barriers of entry into the Business Market?

A

LABELS

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4
Q

What does LABELS stand for?

A

Legal Barrie’s
Availability of information
Brand loyalty
Expertise
Location
Set-up costs

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5
Q

What does PESTLE stand for?

A

Political
Economic
Social
Technological
Legal
Environmental

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AAT Level 3 (22 decks)

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