Business objectives 3.2.1 Flashcards
1
Q
What are the 4 main influences of a firm
A
Managers
Shareholders
Workers
Directors
2
Q
Where does revenue maximisation occur
A
MR = 0
3
Q
Where does sales maxmisation occur and what profit do firms make
A
AC = AR
Normal Profit
4
Q
What is sales maxmisation
A
Maxmising sales without making a loss
5
Q
Define Profit satisficing
A
When a company makes enough profit to satisfy its influencers
