Tag: KS3

A factory produces 120 units with a workforce of 10 employees. The number of employees stays the same but output increases by 20% and costs of production increase by 25%. This means that?

Select ONE answer:

1. labour productivity rises and unit costs rise
2. labour productivity rises and unit costs fall
3. labour productivity falls and unit costs rise
4. labour productivity falls and unit costs fall

Show the workings to arrive at your answer, and explain and justify your reasons:

The 7 ‘P’s of the marketing mix include?

Select ONE answer:

1. process
2. positioning
3. productivity
4. primary market research

Show the workings to arrive at your answer, and explain and justify your reasons:

Market capitalisation is the total value of a company’s?

Select ONE answer:

1. assets
2. dividends paid to shareholders
3. shares, based on the current share price
4. shares, based on the original share price

Show the workings to arrive at your answer, and explain and justify your reasons:

Which one of the following does not vary with output in the short-run?

Select ONE answer:

1. Total revenue
2. Total costs
3. Fixed costs
4. Variable costs

Show the workings to arrive at your answer, and explain and justify your reasons:

A firm only has the resources to introduce one new product to the market. The results of its market research survey are shown below.

• 5% of women and 18% of men said they would consider buying the product.
• Of these, 30% favoured the basic model and 70% favoured the advanced model.

Which one of the following does the market research suggest it would be best for the firm to do

Select ONE answer:

1. Produce the advanced model and target men
2. Produce the advanced model and target women
3. Produce the basic model and target men
4. Produce the basic model and target women

Show the workings to arrive at your answer, and explain and justify your reasons: