My Big Fat Revision

Many car manufacturers are expected to respond to a fall in overall capacity utilisation in the industry by cutting prices. To what extent is cutting prices a good way for any business to respond to a fall in the overall capacity utilisation in its industry? Capacity utilisation is the percentage of total capacity that is actually achieved in a period of time. The extent to which cutting prices is a good way for a business to respond to a fall in capacity will depend on the price elasticity. This essay will look at whether it is good for all businesses or not. Cutting prices would lead to the product becoming more accessible. Reducing overall capacity utilisation means that the business will have higher costs as demand is lower; goods being sold will not have their revenue spread across the fixed costs. A Daihatsu car may work to combat this because a car is a luxury product and is price elastic, meaning that demand will change as the price does. A fall in selling price will mean...

Why do businesses exist? •     To provide goods and services for customers •     Customers can be from the UK or abroad – individuals, other businesses or government departments. •     A business that meets the needs of the customer is more likely survive long term. •     Most business are started by a single individual or small group. •     People who have an idea and want to develop it with a business are called entrepreneurs. •     Entrepreneurs often take risks and reap the profits or losses that come with this. •     Motivation for setting up a business varies •     Some do it because they have a talent or skill they wish to use to provide goods/services •     Some try to fill a gap in the market •     All businesses are likely to  have a purpose or a mission and objectives or goals they wish to achie...

Idiot’s Guide to Naturalism Naturalism is the view that 1.      Ethical terms can be defined or explained using the same ‘natural’ terms we use in maths and science 2.      Morals can be based on the same kind of observation of the world as used in science 3.      All ethical statements can be translated into non-ethical ones Naturalists are absolutists . Morals are not about opinions and points of view and are objectively true . For example: ‘euthanasia is evil’ – they are expressing a moral truth, not an opinion. A person uses their senses and logic to conclude ethical truths. Moral truths are facts like numbers. You can conclude something is wrong from observation and analysis . Moral facts aren’t views or opinions, nor are they based on spiritual or intuitive sense. When you observe something is wrong, it’s a moral fact of the universe. Theological naturalists, like Thomas Aquinas,...