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Worksheetsmock cap Nov 21
Total questions: 17
Worksheet time: 5mins
Formula for income elasticity of demand
% change in income / % change in quantity demanded
% change in quantity demanded / % change in income
Income rises 4% and sales rise 6%
YED = +2.4
YED = +24
YED = +1.5
YED = -1.5
How can you add value to a potato ?
put it in a plastic bag
peel it
make crisps
A pizza costs 80 pence to make but sells for £3.50
added value = £3.50
added value = £0.80
added value = £2.70
Tesco's market share of groceries :
red
green
orange
Dominos sell 10 million pizzas in a market size of 25 million pizzas
Dominos market share = 10 %
Dominos market share = 40 %
Dominos market share = 25 %
Dominos market share = 2.5 %
The image relates to
social trend affecting place
social trend affecting product design
social trend affecting promotion
Social trends affecting product design
symbol = biodegradable
symbol = recyclable
symbol = compostable
symbol = roundabout ahead
There is 100 times more gold in a tonne of mobile phones than in a tonne of gold ore.
true
false
A dynamic market =
static
slow changing
fast changing
predictable
A product portfolio =
the range of products a business sells
products arriving by sea
photographs of products
a product catalogue
Sales revenue =
tax to be paid
money from sales
cost of products returned by customers
M = measure
M = moment
M = management
M = market
O = opportunity
O = objectives of the business
O = options
O = obligation
P = proposal
P = promotion
P = product (or service)
P = preparation
S = situation
S = subject
S = systems
S = supply
social trend affecting promotion
social trend affecting place
social trend affecting product design
social trend affecting price strategy
