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What is revenue?
the money you have left over from your paycheck
the amount of money you make in your paycheck before taxes
total income generated from selling products & services
the amount of money left after all expenses are taking out
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15
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What is market segmentation?
A section of the school who all like the same
A place in the world
A section of the market that have similar characteristics
A part of the world
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15
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What is price penetration?
Will set the highest price customers will pay and lower it over time
Attracting customers to a new product or service by offering a lower price
Making sure that your prices don't match your competition
Making sure that your prices are lower than your competition
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What is a service?
driving you car to your business address
an intangible product of a business sold to make profit
doing you class work on time
a tangible product of a business sold to make profit
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thief
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25
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seesaw
Swap points!
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gift
Win 25 points!
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thief
Give points!
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who is the franchisee?
A big successful business
The big business who lets others use their name
A person from France
The person who buys the right to use the name
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15
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A physical product that is designed by a business and sold to customers is known as a
want
service
need
good
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thief
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shark
Other team loses 25 points!
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shark
Other team loses 5 points!
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thief
Give points!
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heart
Other team wins 5 points!
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shark
Other team loses 25 points!
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fairy
Take points!
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25
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thief
Give points!
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A business is an organisation where ____ or ____ are exchanged for money
profits or goods
profits or services
goods or services
needs or wants
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15
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The amount left over from revenue after all cost and expenses are met is called
Sales
Money
Saving
Profit
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What is profit?
When costs are greater than revenue
All revenue is profit
When revenue is greater than costs
When costs and revenue are equal
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15
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How do you calculate Total Revenue?
Selling Price + Quantity Sold
Selling Price x Quantity Sold
Profit / Quantity Sold
Quantity Sold - Total Cost
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15
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What are the 7p's of marketing?
Product, Price, Place, Promotion, People , Progress, Physical evidence
Physical evidence, People, Process, Power, Price, Place, Product
Product, Price, Place, Promotion, People, Process, Physical evidence
Process, Physical power, People, Promotion, Place, Price, Product
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15
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What you receive when you sell goods or services is called -
Money
Profit
Revenue
Capital
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15
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McDonalds and KFC are examples of a Franchisor.
True
False
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