What is meant by ‘business cycle’?
Identify two stages of the business cycle
Identify two possible effects on businesses from falling Gross Domestic Product
Identify two features of an economic boom
Identify two features of a growing economy
Do you think that all businesses benefit from operating in a country with rapid economic growth?
What is meant by ‘break-even output’?
Calculate the break-even number of customers for a typical NWA flight. Show your working
Identify and explain two benefits to JSF of market research
Identify and explain two reasons why EGT uses batch production
Identify and explain two possible reasons why VXH uses batch production
Identify and explain two advantages to IBH of using batch production
Explain one benefit and one limitation to RVC of using batch production
Identify and explain one advantage and one disadvantage of advertising in a national newspaper
Identify 2 ways of increasing added value
