Memorsing content can only take you so far, so use exam questions effectively to prepare yourself for the actual exam. This document will help you do so, it contains a mix of exam style questions with extract/sources just like the real exam. The marks are for AS level but you can just as easily use...
3.2 Business
Objectives
(Edition 1)
h 40 minutes
h The maximum mark for this unit assessment is 30
Name
Centre Name
, Edexcel A Level Economics (A)
Unit Assessment
3.2 Business Objectives
Section A
ANSWER ALL THE QUESTIONS
1a A good explanation of ‘satisficing’ is
A market entry decisions can be reversed without cost
B business owners setting minimum acceptable levels of achievement in terms of
revenue and profit.
C finding the minimum efficient scale of output
D barriers to entry to a market have been overcome
(1 mark)
1b Which of these is not a feature of a public-sector firm?
A Often provides services free-of-charge at the point-of-use
B It is controlled by the state
C Profits will usually be reinvested in the business
D Offers owners the benefits of limited liability
(1 mark)
1c Give two reasons that a firm may have for choosing to maximise sales rather than profit.
(2 marks)
Page 2 Edexcel A Level Economics Unit Assessment www.tutor2u.net/economics
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller EconomicsNoteAndExamQuestions. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £2.99. You're not tied to anything after your purchase.
