unit 1 - examining business markets II |
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Pricing and output decisions
> Loss leaders - selling a product at a knocked down price, even at a loss to the business, to attract sales and increase market share
> Output decisions - an economists term relating to maximising profits
> Price elasticity of demand - a method of measuring the relationship between price and demand
> Response of business - to pricing decisions and output decisions by competitors
> Loss leaders - selling a product at a knocked down price, even at a loss to the business, to attract sales and increase market share
> Output decisions - an economists term relating to maximising profits
> Price elasticity of demand - a method of measuring the relationship between price and demand
> Response of business - to pricing decisions and output decisions by competitors
Task 2
Watch the videos below and undertake your own individual research where necessary to ensure you have a sound understanding of :
> Loss leader pricing
> Price elasticity of demand
> GDP
Watch the videos below and undertake your own individual research where necessary to ensure you have a sound understanding of :
> Loss leader pricing
> Price elasticity of demand
> GDP
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