Practise Unit 3 business behaviour through ownership forms, growth, costs, revenues, market structures, labour markets and intervention evidence.
A Swedish company, Lantmännen, is an agricultural business owned by 25000 farming partners.
Which one of the following is the best description of this type of business?
State-owned enterprise
Joint venture
Conglomerate
Co-operative
The table shows the number of international subscribers for Netflix and its total revenue for Q4 in the years 2017 to 2020.
Which one of the following can be deduced from the table?
Average revenue was $32.62 in Q4 2017
Average revenue was $29.70 in Q4 2018
Average revenue was $32.72 in Q4 2019
Average revenue was $30.07 in Q4 2020
Total revenue for American Airlines fell from $ 45.77 billion in 2019 to $ 17.34 billion in 2020. In response, American Airlines made 31000 staff redundant.
Which one of the following was the most likely reason for these staff redundancies?
The number of airline passengers rose
The derived demand for labour fell
Government employment subsidies to airlines increased
Taxation on airline employees decreased
A monopoly is operating at its revenue maximising output. Which one of the following is true?
Marginal revenue is equal to marginal cost
Average revenue is equal to average cost
Average fixed costs are rising
Marginal revenue is zero