Factors influencing yed - Study guides, Revision notes & Summaries

Types of market - Mass, niche and dynamic Market orientation - The needs of the consumer placed at the centre Product orientation - Emphasis placed on the production process and the product itself Quantitative market research - Collection of numerical information Qualitative market research - Collection of information about attitudes, beliefs, etc. Factors affecting demand - Price of complements / substitute goods Consumer incomes Fashions Advertising Demogra...

AQA A level Business 3.3 Latest Update Graded A+ Marketing The process of analysing, identifying and satisfying customer needs profitably Marketing includes e.g. x3 Undertaking and analysing market research Identifying target markets Communicating successfully with customers Marketing objectives The goals set for the marketing department to achieve that will help a business to achieve their corporate objectives Sales volume Measures the total number of units a firm has sold Sale value Measur...

Edexcel A Level Microeconomics 2022|2023 latest updated Factors influencing demand for labour Demand for final product - if rise in output > increase in productivity Relative productivity of labour to capital - substitution effect £3,000 subsidy for hiring unemployed 18-24 y.o. = half UK's youth minimum wage Factors influencing supply of labour Cost of living Cost of gaining skills UK uni fees capped at £9,250 per year Number of workers UK raises state pension age fro...

Business WJEC Unit 3 A2 level questions and answers index numbers Indicator if changes in prices and quantities. Its a speiclaised avg designed to measure a group of related variable overs X amount of time. Features of index numbers Measures relative change over time Quantitative expression- Offer a precise measurement of the quantitative change in the concerned variable. Average- show changes in terms of average Advantages of Index numbers 1.Measurement of change in the ...

Business WJEC Unit 3 A2 level 100% accurate answers index numbers Indicator if changes in prices and quantities. Its a speiclaised avg designed to measure a group of related variable overs X amount of time. Features of index numbers Measures relative change over time Quantitative expression- Offer a precise measurement of the quantitative change in the concerned variable. Average- show changes in terms of average Advantages of Index numbers 1.Measurement of change in the ...

In this lecture notes you will find in depth notes for the topic "YED" Theme 1 of Edexcel A level business which is called marketing and people.The textbook "Edexcel AS/A level BUSINESS, 5th edition, Pearson" is referenced in these lecture notes. They are really well written and simple to read and understand. They make learning 100% easier as I have worked really hard to write these challenging concepts in a simpler way, combining power points, lecture notes and book. It really helped me ach...

Explains the factors which affect the demand for a product, what Price Elasticity of Demand (PED) is, why price elasticity matters, the factors influencing price elasticity, and the problems with using price elasticity. Also describes Income Elasticity of Demand (YED), the factors influencing income elasticity, and the significance of income elasticity to businesses.