Reference no: EM132917056
Define "sole trader"1
(a) Define the term 'competitive pricing strategy'.
(b) Briefly explain why a business might use a price skimming strategy.
2 (a) Define the term 'retained earnings'.
(b) Briefly explain the distinction between short-term and long-term sources of business finance.
3 Explain factors that could influence the scale of operations of a business.
4 (a) Define the term 'private limited company'.
(b) Briefly explain two possible disadvantages to a sole trader of changing to a private limited company.
Section B (Essay)
5 (a) Analyse the difference between autocratic and laissez-faire leadership.
(b) 'A democratic style of leadership is the most effective leadership style for a manufacturing business in a very competitive industry.'
Discuss this view.
6 Discuss the view that the limitations of income statements and statements of financial position significantly reduce their usefulness as measures of business performance.
7 (a) Analyse the advantages and disadvantages for a retail business of using Just in Time (JIT) to manage its inventory.
(b) Discuss the importance of flexibility and innovation to a multinational furniture manufacturer.
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Define the term competitive pricing strategy
: (a) Define the term 'competitive pricing strategy'. (b) Briefly explain why a business might use a price skimming strategy.
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