1
Q
when is a market said to be at equilibrium?
A
when there is a balance between demand and supply
2
Q
why does the equilibrium point change
A
as demand and supply try to reach a point of balance
3
Q
what is pe known as
A
the market clearing price
4
Q
what happens to market equilibrium price and quantity when demand increases
A
they will increase
5
Q
what happens to market equilibrium price and quantity when supply increases
A
price will decrease, quantity will increase
Business
flashcards
Decks in class (43)
# Cards
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Exam question structure5
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The Market 1.1.124
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Market Research 1.1.231
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Market Positioning 1.1.315
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Demand 1.2.121
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Supply 1.2.25
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Markets and Equilibrium 1.2.35
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Price Elasticity of Demand 1.2.415
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Marketing Mix + Strategy 1.3.110
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Branding and Promotion 1.3.225
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Pricing Strategies 1.3.320
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Distribution 1.3.422
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Marketing Strategy 1.3.525
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Approaches to staffing 1.4.138
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Recruitment, selection, and training 1.4.222
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Organisational Design 1.4.330
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Motivation in theory and practise 1.4.439
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Leadership 1.4.517
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Role of an entrepreneur 1.5.110
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Entrepreneaurial motives and characteristics 1.5.27
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Business objectives - 1.5.310
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Forms of Business 1.5.420
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Business choices 1.5.55
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Moving from an entrepreneur to a leader 1.5.62
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Sources of finance 2.123
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Liability 2.1.35
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Planning and cash flow 2.1.417
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Sales forecasting 2.2.110
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Sales revenue and costs 2.2.210
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Breakeven 2.2.315
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Budgets 2.2.415
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Profit 2.3.116
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Liquidity 2.3.214
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Business Failure 2.3.37
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Production, productivity, and efficiency 2.4.139
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Capacity utilisation 2.4.26
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Stock management 2.4.315
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Quality 2.4.43
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Legislation 2.5.221
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Working in a Competitive Environment 2.5.39
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Theories of Corporate Strategy 3.1.225
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Business Growth 3.2.15
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Calculations41
