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ASSIGNMENTS
18.08.2008
Distinguish between fixed and variable costs and give examples (4)
Easibeds Ltd calculated its average costs as follo ...
Added by: LadyAngelPL
Category: Revision note
Course: Economics and Business
18.08.2008
AVERAGE COSTS
The cost per unit of output. It is equal to total cost divided by output.
SCALE OF PRODUCTION
The numbe ...
Added by: LadyAngelPL
Category: Revision note
Course: Economics and Business
18.08.2008
Profit is vital for the well being of businesses and also the functioning of the economy.
The distribution of profit ...
Added by: LadyAngelPL
Category: Revision note
Course: Economics and Business
18.08.2008
1. Price Elasticity of Demand
This measures the relationship between changes in price of a product and the change i ...
Added by: LadyAngelPL
Category: Revision note
Course: Economics and Business
18.08.2008
OUTPUT
The number of goods produced. E.g. if one car is produced it is one unit of output, if 100 cars are produced ...
Added by: LadyAngelPL
Category: Revision note
Course: Economics and Business
18.08.2008
SALES REVENUE
The money received by a business over a period of time
e.g. a shop sells 100 pens at £1 each its s ...
Added by: LadyAngelPL
Category: Revision note
Course: Economics and Business
18.08.2008
FOUNDATION LEVEL
• Putting your money into a building society is one way of saving money. Name 2 other ways o ...
Added by: LadyAngelPL
Category: Revision note
Course: Economics and Business
18.08.2008
WHY DO THEY NEED MONEY?
• To start up
• To buy equipment
• To expand into new premises
&bul ...
Added by: LadyAngelPL
Category: Revision note
Course: Economics and Business
18.08.2008
Organisations that provide financial services to their customers. The customers could be individuals or businesses.
...
Added by: LadyAngelPL
Category: Revision note
Course: Economics and Business
18.08.2008
An interest rate is the price or cost of borrowing money.
For example you might borrow £1,000 from a bank. Howeve ...
Added by: LadyAngelPL
Category: Revision note
Course: Economics and Business
