3.2- Business Objectives- A level Economics Edexcel Exam Questions
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Course
Unit 3 - Business behaviour and the labour market
Institution
PEARSON (PEARSON)
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
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