Question 1
Question
Giving you the actual figures, so you can make a comparison
Answer
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Relative numbers
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Absolute numbers
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Index numbers
Question 2
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When the figures are not shown, but you can see how the values relate to each other- Index numbers
Question 3
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Tabulated data: When you have worked out the mean, [blank_start]median[blank_end], mode, range and the [blank_start]average[blank_end] of the numbers
Answer
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Average
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Range
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Table
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Index
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Mean
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Mode
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Table
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Median
Question 4
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Index numbers: They give the researcher a picture of the [blank_start]average[blank_end] change in a group of variables over time
Answer
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Relative
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Absolute
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Average
Question 5
Question
Many businesses complying to supply goods to numerous consumers. sometimes called 'price takers'. E.g. fruit and vegetable markets
Answer
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Monopolistic competition
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Perfect competition
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Oligopoly competition
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Monopoly competition
Question 6
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[blank_start]Oligopoly[blank_end] competition: A few large dominant businesses- each business knows that its actions will affect other businesses. E.g. Motor vehicle manufacturing and food
Question 7
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Monopoly competition: A market in which only one business operates. The business has significant control and power to set prices. E.g. internet, landline and water providers
Question 8
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What types of integration are used in business?
Question 9
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Increasing the sales of an existing product in its current market and taking sales away from competition
Answer
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Product development
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Diversification
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Market development
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Market penetration
Question 10
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Entering new markets with new products is known as?
Answer
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Diversification
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Market development
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Product development
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Market penetration
Question 11
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The dominant company in the market- usually the firm with the highest sales- Market leader
Question 12
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Market Followers- These are firms that seek a 'quiet life'- knowing that they lack the size or drive to become market [blank_start]leader[blank_end], they often seek to make enough profit to survive.
Answer
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Leader
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Challenger
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Nicher
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Follower
Question 13
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Market [blank_start]nicher[blank_end]- Smaller, but sometimes very profitable businesses that operate in a narrowly defined segment of the market
Question 14
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Which of these taxes is added to the price of most products before purchase?
Answer
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Value added tax (VAT)
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Corporation tax
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Income tax
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National insurance tax
Question 15
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The rate at which the general level of prices for goods and services is rising, and consequently, the purchasing power of currency is falling
Answer
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Exchange rates
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Interest rates
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Inflation
Question 16
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What is the current interest rate? (the interest rate being the cost of borrowing money)
Question 17
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These involve quotes and tariffs that come into operation when the UK trades with countries outside of the [blank_start]EU[blank_end]
Question 18
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The sales of goods act- This states that goods must be of merchantable quality, [blank_start]fit for purpose[blank_end] and as described by the manufacturer
Question 19
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Office of [blank_start]fair[blank_end] trading- This agency oversees consumer protection in the UK on a national level- offering advice to consumers and where necessary, prosecuting companies that are thought to be adopting unfair practices.
Question 20
Question
Which company monitors all advertisement media, except that on television and radio- to ensure that it is 'legal, decent, honest and truthful'.