Supply and Demand (AQA A-Level Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What are items that are partially made in a business called?
What are items that are partially made in a business called?
Work in progress
What is the second stage of the supply chain?
What is the second stage of the supply chain?
Manufacturing process
What does mass customisation allow businesses to do?
What does mass customisation allow businesses to do?
Tailor products to individuals at scale
What does 'speed of response' measure in operations?
What does 'speed of response' measure in operations?
How quickly an order is fulfilled
What is a consequence of holding too much supply?
What is a consequence of holding too much supply?
Excess stock sold at reduced prices
How can a business use the marketing mix to increase demand?
How can a business use the marketing mix to increase demand?
Reduce prices and run sales promotions
What is an example of a flexible workforce strategy?
What is an example of a flexible workforce strategy?
Using multi-skilled workers
What does Just-in-Time (JIT) production aim to do?
What does Just-in-Time (JIT) production aim to do?
Minimise inventory levels
Why is it unwise to hold large stocks of perishable goods?
Why is it unwise to hold large stocks of perishable goods?
They could spoil before being sold
What is the opportunity cost of holding inventory?
What is the opportunity cost of holding inventory?
Money could be used elsewhere in business