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1. (a) Which one of the following is an example of a variable cost? Select one answer - Edexcel - GCSE Business - Question 2 - 2022 - Paper 1
Question 2
1. (a) Which one of the following is an example of a variable cost? Select one answer. A. Insurance B. Packaging C. Rent D. Salaries (b) Which one of the followin... show full transcript
Worked Solution & Example Answer:1. (a) Which one of the following is an example of a variable cost? Select one answer - Edexcel - GCSE Business - Question 2 - 2022 - Paper 1
Step 1
Which one of the following is an example of a variable cost?
Answer
A variable cost is one that varies in direct proportion to the level of production or output. In the provided options, B. Packaging is the correct answer as packaging costs typically increase with the quantity of products produced, making it a variable cost.
Step 2
Which one of the following could be used to identify a market segment?
Answer
To identify a market segment, it is essential to consider factors that can categorize potential consumers. A. Demographics is the right choice because demographic factors like age, gender, income, and education level help in defining specific market segments.