tets

Question 1

what does pestle stand for

Answer 1

political
economical
social
technological
legal
environmental

Question 2

profit formula

Answer 2

revenue - total costs

Question 3

break even formula

Answer 3

fixed costs/contribution per unit

Question 4

what is a business

Answer 4

organisation that provides goods and services

Question 5

what are the four business sectors

Answer 5

primary
secondary
tertiary
quaternary

Question 6

why do businesses use market mapping

Answer 6

find out where their product or service is viewed by the public and who to target

Question 7

stages of product life cycle

Answer 7

research + development
introduction
growth
maturity
saturation
decline
obsolete

Question 8

catalogues in the boston matrix

Answer 8

star
cash cow
dog
question mark

Question 9

different types of sampling

Answer 9

simple random
systematic
stratified
clustered

Question 10

three different ways of collecting data

Answer 10

survey
research
phone call

Question 11

what is a niche market with example

Answer 11

a market with few competitors. gluten free bread

Question 12

gross profit margin

Answer 12

gross profit/sales revenue x100

Question 13

operating profit margin

Answer 13

operation profit/sales (turnover) x100

Question 14

profit for the year margin

Answer 14

profit for the year/sales

Question 15

define cash flow

Answer 15

money coming in and out of a business

Question 16

define liquidity

Answer 16

ability of a firm to pay its short term debts

Question 17

define liquidity

Answer 17

ability of a firm to pay its short term debts

Question 18

what does CELL stand for

Answer 18

capital
enterprise
labour
land

Question 19

one benefit of secondary research

Answer 19

quicker to collect then primary

Question 20

contribution per unit formula

Answer 20

selling price per unit - variable costs per unit