March 2023

A Level Business Studies: Secondary Level Production

By |2023-03-26T04:42:13+02:00March 26th, 2023|

  • Secondary level production is important in the manufacturing sector and involves a wide range of activities […]
    • Secondary level production involves the conversion of raw materials into finished goods.
    • This level of production takes place after primary level production and is focused on adding value to the raw materials.
    • Secondary level production is important in the manufacturing sector and involves a wide range of activities […]
    • Read More
    Comments Off on A Level Business Studies: Secondary Level Production

    A Level Business Studies: Primary Level Production

    By |2023-03-26T04:38:34+02:00March 26th, 2023|

  • Primary level production is the foundation of the production process because it provides the essential raw materials needed for all other levels […]
    • Primary level of production is the initial stage of production where raw materials are extracted or harvested directly from nature or obtained through agriculture, forestry, fishing, mining, and other similar activities.
    • Primary level production is the foundation of the production process because it provides the essential raw materials needed for all other levels […]
    • Read More
    Comments Off on A Level Business Studies: Primary Level Production

    A Level Business Studies: What are the three levels of production?

    By |2023-03-26T04:26:22+02:00March 26th, 2023|

  • The stages of production are a critical aspect of operations management and refer to the different phases involved in transforming raw materials into finished products or delivering services to customers.
  • The stages of production are a critical aspect of operations management and refer to the different phases involved in transforming raw materials into finished products or delivering services to customers.
    • Read More
    Comments Off on A Level Business Studies: What are the three levels of production?

    A Level Business Studies: The nature of operations management

    By |2023-03-26T04:16:48+02:00March 26th, 2023|

  • However, while operations management covers the conversation […]
    • In the previous installment we have been looking at marketing, we have also looked at human resources management
    • It is time to look at another important business function namely operations management
    • Operations management is often colloquially referred to as production
    • However, while operations management covers the conversation […]
    • Read More
    Comments Off on A Level Business Studies: The nature of operations management

    A Level Business Studies: Marketing decisions and Elasticity of Demand

    By |2023-03-26T03:44:22+02:00March 26th, 2023|

    • Elasticity of demand is an important concept in marketing that helps businesses make informed decisions about pricing, promotions, and product development.
    • By understanding the responsiveness of demand to changes in various factors, businesses can make more effective marketing decisions that maximize profits and minimize risks.

    Price […]

    Read More
    Comments Off on A Level Business Studies: Marketing decisions and Elasticity of Demand

    A Level Business Studies: Elasticity of demand and promotional spending

    By |2023-03-26T03:40:04+02:00March 26th, 2023|

  • Therefore, it […]
    • Promotional spending refers to any marketing efforts aimed at increasing product awareness, interest, and sales through various channels such as advertising, discounts, coupons, and loyalty programs.
    • The effect of promotional spending on the elasticity of demand varies depending on the type of elasticity, product characteristics, and promotional strategies.
    • Therefore, it […]
    • Read More
    Comments Off on A Level Business Studies: Elasticity of demand and promotional spending

    A Level Business Studies: Interpreting and using the results of elasticity of demand

    By |2023-03-26T03:33:02+02:00March 26th, 2023|

  • Here are the possible results for each type of elasticity of demand, along with a recommendation for how a manager can use this information:
  • Here are the possible results for each type of elasticity of demand, along with a recommendation for how a manager can use this information:
    • Read More
    Comments Off on A Level Business Studies: Interpreting and using the results of elasticity of demand

    A Level Business Studies: Cross Elasticity of Demand

    By |2023-03-26T03:59:45+02:00March 26th, 2023|

  • It is an important concept for businesses to understand as it can help them to make decisions about pricing, product development, and marketing strategies.
  • It is an important concept for businesses to understand as it can help them to make decisions about pricing, product development, and marketing strategies.
    • Read More
    Comments Off on A Level Business Studies: Cross Elasticity of Demand

    A Level Business Studies: Income elasticity of demand

    By |2023-03-26T03:55:53+02:00March 26th, 2023|

  • YED can be positive, negative, or zero, indicating how changes in […]
    • Income Elasticity of Demand (YED) measures the responsiveness of demand for a good or service to a change in income of consumers.
    • YED is calculated as the percentage change in quantity demanded divided by the percentage change in income.
    • YED can be positive, negative, or zero, indicating how changes in […]
    • Read More
    Comments Off on A Level Business Studies: Income elasticity of demand

    A Level Business Studies: Price Elasticity of Demand

    By |2023-03-26T03:50:46+02:00March 25th, 2023|

  • PED can be elastic, inelastic […]
    • Price elasticity of demand (PED) is a measure of the responsiveness of quantity demanded of a product to a change in its price.
    • It shows how sensitive consumers are to changes in price and helps businesses understand how changes in price will affect their revenue.
    • PED can be elastic, inelastic […]
    • Read More
    Comments Off on A Level Business Studies: Price Elasticity of Demand
    Toggle Sliding Bar Area
    Go to Top