G10 Term 1 Checkpoint 2 Exam Guide

• Business Studies
• Secondary Education

Friday, 28th October 2023

Term 1 Checkpoint 2 Exam Guide

guaranteed= for sure

doesn't think about demand or competitors

250 / 50 = 5 x1.5= 

2.5 is 50%

business goal is to stay in the market

water brands

increase price points once they are known

give me an example of a business with many competitors? 

can differentiate itself through marketing/ adverts

If the price is too low it will lose it's value and brand image. 

advertise rolex - tennis tournaments 

55 million

2.00 AED > 2.20 AED

Elastic- customer demand reacts a lot to price changes= not a necessity - exclusive items with premium pricing

Inelastic- customer demand is not very reactive to price changes= necessity

Unitary= comfort goods for example like TV, gym equipment

Distribution channels

1                    2               3               4

Durable goods are made to last three or

more years, for example, bicycles, furniture and cars. Non-durable goods are goods that

are used for three years or less.

e-commerce website