Business Objectives Flashcards
1
Q
How is market share measured
A
Measured using revenue
The more revenue a company has, the greater the market share
2
Q
When does a firm revenue maximise
A
Where MR =0
3
Q
What is sale maximisation
A
When a firm maximises sales without making a loss
4
Q
When does dales maximisation occur
A
When AR = ATC
5
Q
What is profit satisficing
A
When a company makes enough profit to satisfy its influencers (shareholders, workers etc)
