©Themoon EXAM SOLUTIONS
22/11/2024 11:25AM
A level Business Edexcel paper 3 Questions
and Answers
cost-plus pricing - Answers✓✓choosing a price by adding a mark up to the production cost
Price skimming - Answers✓✓starting with a high price then over time reducing the price as
product becomes less innovative
Penetration pricing - Answers✓✓using a price slightly lower than competitors already in the
market
Competitive pricing - Answers✓✓pricing at a similar level or slightly lower to competitors
psychological - Answers✓✓pricing just below a round number to give an illusion of value
factors that determine an appropriate pricing strategy - Answers✓✓- number of USPS/amount
of differentiation
- Price elasticity of demand
- level of competition in the business environment
- strength of the brand
, ©Themoon EXAM SOLUTIONS
22/11/2024 11:25AM
- stage in the lifecycle
- costs and need to make a profit
changes in pricing to reflect social trends - Answers✓✓- online sales
- price comparison sites
Recruitment - Answers✓✓the process of finding people to work for a company or become a
new member of an organisation
Recruitment process - Answers✓✓1. Identify the Vacancy
2. Write the Job Description
3. Person Specification
4. Advertise
5. Candidates apply (send CV) (Letter of application)
6. Candidates are shortlisted
7. shortlisted candidates are interviewed
8. Candidates may participate in another recruitment activity
22/11/2024 11:25AM
A level Business Edexcel paper 3 Questions
and Answers
cost-plus pricing - Answers✓✓choosing a price by adding a mark up to the production cost
Price skimming - Answers✓✓starting with a high price then over time reducing the price as
product becomes less innovative
Penetration pricing - Answers✓✓using a price slightly lower than competitors already in the
market
Competitive pricing - Answers✓✓pricing at a similar level or slightly lower to competitors
psychological - Answers✓✓pricing just below a round number to give an illusion of value
factors that determine an appropriate pricing strategy - Answers✓✓- number of USPS/amount
of differentiation
- Price elasticity of demand
- level of competition in the business environment
- strength of the brand
, ©Themoon EXAM SOLUTIONS
22/11/2024 11:25AM
- stage in the lifecycle
- costs and need to make a profit
changes in pricing to reflect social trends - Answers✓✓- online sales
- price comparison sites
Recruitment - Answers✓✓the process of finding people to work for a company or become a
new member of an organisation
Recruitment process - Answers✓✓1. Identify the Vacancy
2. Write the Job Description
3. Person Specification
4. Advertise
5. Candidates apply (send CV) (Letter of application)
6. Candidates are shortlisted
7. shortlisted candidates are interviewed
8. Candidates may participate in another recruitment activity
