Unit 1 Revision ii) Edexcel business a level

A cash cow has a high market share and low market (a)   (one word)

An intermediary in a distribution channel whose role is to 'break bulk' is a w (a)   (one word)

Products that has a negative income elasticity of demand are classified as i (a)   (one word)

Shares are sold to the public on the stockmarket

• LTD

• PLC

• Private limited company

Decisions are made in Head Office and communicated to the regional branches

• decentralised

• centralised

• delegated

• outsourced

• Maslow

• Herzberg

• Taylor

• Mayo

Large orders, many meetings, customer wants technical details, often bought on credit :

• B to C

• B to B

If a product has many close substitutes, a weak brand and is not differentiated : demand is likely to be

• price inelastic

• price elastic

• unresponsive to price changes

• graph shows increase in demand

• graph shows increase in supply

• graph shows decrease in demand

• graph shows decrease in supply

The shift was caused by :

• lower raw material costs

• higher raw material costs

• a successful advert for the product

• higher subsidies given to producer