A level Economics (Unit 3) Flashcards on Business Objectives, created by Sophie Knight on 18/02/2017.
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Created by Sophie Knight
about 7 years ago
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Close
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Created by Sophie Knight
about 7 years ago
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What is a stakeholder?
Give 3 likely objectives for an owner or shareholder
Give 3 likely objectives for directors and managers
What is organisational theory?
Name the 3 conditions that profit satisficing will tend to occur in
How is Profit maximising shown on a diagram?
What conditions need to be met for this to be possible?
How is revenue maximisation shown on a diagram?
What was William Baumol's theory regarding the objective of revenue maximisation?
How is sales maximisation shown on a diagram?
Why might firms be aiming for sales maximisation?
How is allocative efficiency shown on a diagram?
What is "satisficing"?
What are 4 examples of pricing strategies to gain market share or increase profitability?
What are 4 disadvantages of predatory pricing?
What are 7 examples of non-pricing strategies?
