G10 T2 End of Term Review | Baamboozle - Baamboozle

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Which method of production can we use for graduation cakes for a student called Roodah? a. job b. batch c. flow

a. job

What does the marketing department do?

research what customers want and advertise products

How do we calculate the total cost of a business? a. fixed costs/ output b. fixed costs + variable costs

fixed costs + variable costs

How do we calculate variable cost per unit? a. total output/variable input b. total variable costs/ output

total variable costs/ output

What is the second calculation for break-even cost? a. selling price - variable cost per unit b. fixed costs / contribution per unit

fixed costs / contribution per unit

An example of fixed costs is the cost of materials. True or false?

false

What is flow production? and which product do we make with flow method?

production in a line - phones

What is the formula for total average cost?

total costs / number of output

What is the meaning of loss?

the business has not made any money

Which one is a benefit of good quality products? Increased costs or increased sales?

increased sales

Give an example of a variable cost.

delivery, materials, part-time employees, water, electricity

What is the break-even point? a. Revenue is more than costs. b. Revenue and costs are the same.

Revenue and costs are the same.

Why is the break-even point important? a. It tells you how many products to sell to make a profit. b. It tells you about your competitors.

It tells you how many products to sell to make a profit.

For a business, which one is a result of a low quality product? Loss of customers or increased sales?

loss of customers

What is the meaning of profit? a. revenue is more than costs b. costs is more than revenue

revenue is more than costs

Give one disadvantage of low quality products for a business?

increase costs, loss of customers, bad reputation

Give one benefit of good quality products for a business?

brand loyalty, increased sales, good reputation, new customers

What is the meaning of quality?

how good something is

What is the meaning of value?

how useful a product or service is

Afra's customers think poorly of her coffee business because the coffee do not taste nice. What is this an example of? Bad reputation or increased costs?

bad reputation