There Are a Number of Mechanisms an Organisation Can Put

question 7

Multiple Choice

There are a number of mechanisms an organisation can put in place to:

• A) ensure customers are happy with their services
• B) keep all of its staff working consistently
• C) ensure only customers that want to purchase come into the store
• D) keep staff from each department working together without wasting time

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Definitions:

Breakeven Analysis

The calculation to determine the number of products or services a business needs to sell to cover its costs, identifying the point at which revenue equals expenses.

Total Cost

The aggregate sum of all expenses associated with producing a good or providing a service, including fixed and variable costs.

Variable Costs

Expenses that vary directly with the level of production or sales volume.

Production

Use of resources, such as people and machinery, to convert materials into finished goods and services.