Business (Economics) Help [+rep]

[PaulMacC]

I have a few questions I'm completed snookered on and cant really find the answer to them anywhere in my notes.

Discuss how a company adds value to their products and analyse the benefits of this. (8 marks)

Using the DTI classification for business size indentify how you could measure the size of a business and discuss the significance of such information. (5 marks)

Should a company be concerned about price elasticity of supply; discuss? (6 marks)

[JackBuddy]

Adding value... err limited edition? If there's a high supply then that could increase the value.

The third one, yes. If you're a bread maker and the price of flour increases by 100% then that will obviously have a knock-on effect on the price of the product, and probably a decline in revenue.

Sorry for the brief answers. I did AS business for a year a couple of years ago and that's it lol.

[Tintinnabulate]

The link below should assist you with your first answer :).
http://www.marketingcues.com/articles/10perceivedValue.htm