A Manager Is Setting the Price of a Product

question 8

Multiple Choice

A manager is setting the price of a product. He is considering either using a 12% sales margin or 15% cost mark-up method. What would the selling price be, if his cost of sales is £45?

• A) £50.40 margin or £51.75 mark-up
• B) £51.14 margin or £52.94 mark-up
• C) £50.40 margin or 52.94 mark-up
• D) £51.14 margin or £51.75 mark-up

Recognize the significance of executive summaries in business plans and their components.

Understand the characteristics and motivations of various types of entrepreneurs.

Grasp the role of creativity, initiative, and strategic risk-taking in entrepreneurship.

Understand the significance of funding sources, such as angel investors and venture capitalists, in the startup and growth phases of entrepreneurial ventures.

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Definitions:

Leadership Training

Educational programs or activities aimed at developing skills and competencies to enhance one's ability to lead and manage people effectively.

Empirical Research

Refers to research that relies on observed and measured phenomena and derives knowledge from actual experience rather than from theory or belief.

Diagnoses

The act of identifying and naming a problem or condition, often used in the context of assessing organizational or individual issues.

Adjusts Appropriately

The ability of an entity or individual to change or modify behaviors and actions in response to changing circumstances.