business studies

define 'specialisation'

• able to charge more

• work is divided and workers perform one task to be an expert at it

• division of labour when production line is divided

• the number of people available to performa task

what is not an advantage of specialisation?

• lower cost per unit

• boredom for workers

• better quality products

• workers lose flexibility

what type of resources is the business's IT system?

• enterprise

• land

• capital

• labour

which is not a way to increase the price for are added value?

• improve quality of products by adding features

• purchase cheaper resources from suppliers

• improve reputation of the business

• establishbrand image

which is not tertiary sector?

• consumers have higher disposable income to spend on services

• economic growth

• resources decrease due to depletion of natural resources

• increased globalisation

define 'innovative'

• active employee

• someone who is able to work long hours

• persuasive personality

• has creative ideas for products to retain customers

what is not an ideal characteristic of an employee

• honesty

• unhygienic

• hardworking

• boastful

define 'legislation'

• an money of money paid to govrnment for public services

• financial reward given by the government

• typically cash of liquid assets

• making something previously illegal permissible by law

define 'conglomerate integration'

• integration of company's production in the same level and same type of products

• occurs when two companys merge to form a larger company

• one campany takes over/merges in a completely different industry

• a rise in average costs cue to inflation

what is not an economies of scale?

• marketing economies

• share price economis

• risk-breaing economies

• technical economies