Edexcel Business Choices Flashcards
1
Q
Opportunity cost
A
Loss of the next best alternative
2
Q
Trade off
A
Having more of one one thing means less of another
3
Q
Product trade off
A
Loss of research and development for new product
4
Q
Customer sales trade off
A
Loosing a new target of customers by maintaining with existing customers
5
Q
Market research trade off
A
Gets product to the market quick but dosent have specific needs requires
