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Beginning of a Business, Exam questions, Maintaining a Business, Formula=…

- - - - Up to date
      - Tailored to needs of business
      - Competitors don't have access to data
    - - Time consuming
      - Interview Bias
      - Expensive to carry out
  - - - Free or very cheap
      - Available immediately
    - - Could be out of date
      - May not be reliable or accurate
      - Competitors may have access to
- - - - Changes which do not change with output
      - Examples
        
        Rent
        
        Heating
        
        Salaries
        
        Insurancd
        
        Equipment
    - - Changes depending on the number of customers/ output changes
      - Examples
        
        Raw materials
        
        Packaging
        
        Wages
        
        Delivery costs