1) In a business context the "long tail" refers to: a) backlogs of unpaid invoices damaging small business cash flow b) the time lags involved in launching a new business c) appendices attached to business plans d) increasing scope for development of specialist niche markets 2) The impact of high local unemployment on a firm will be: a) bad if the firm wants to recruit workers b) bad if the product is a luxury sold locally c) good if the firm uses only skilled workers d) good if the product is an exported good 3) Cost plus pricing: a) guarantees that a business will be profitable b) is based on what the market will pay c) entails calculating likely cost and pricing to include a profit d) depends on prices set by rival firms 4) A demand curve will shift to the right if: a) the product becomes more fashionable b) the price of the product falls c) supply of the product increases d) costs of production increase

Unit 1 part 2

by Anonymous
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