The total output of a business is 20,000 units and the total costs of production are £250,000. The average unit cost is:

A business decides to use £1 million from its bank account to invest in new machinery. The opportunity cost of this decision is that the:

Conflict is likely to occur between which of the following stakeholder groups when a factory decides to introduce a night shift to increase output levels:

Which of the following defines the term fixed cost? A cost which:

Details regarding how products will be produced and information relating to suppliers will be included in which part of a business plan?

A business which grows potatoes and makes them into crisps is said to be operating in the:

A business decides to increase its selling prices. Which of the following stakeholders is most likely to be affected?

Which of the following statements is true of a public limited company?

Which of the following businesses is most likely to locate next to a source of skilled labour?

Which of the following is an advantage of growth through opening new stores?

Last year, a business sold 19,600 units and made £98,000 in revenue. Its annual fixed costs were £30,000 and its variable cost per unit was £1.10. How much profit did it make last year?

Which type of business is likely to have increasing shareholder value as an objective?

When a business increases its sales as a percentage of total market sales it is said to be:

Last year a business sold 500 units per year. Fixed costs per year were £25,000 and its variable cost per unit was £90. This year sales and fixed costs remained the same, but variable costs per unit have increased by 10%. What is the business’s total costs this year?