Read this article that covers some businesses that are doing well in the current economic crisis.Level 1: Knowledge
1) Define the term deflation. According to the article, what is the main problem with deflation?
Level 2: Application
2) Explain the term ‘price elasticity of demand’ using a product indentified in this article ..
Level 3: Analysis
3) Analyse the impact of the external business environment on the business strategy for ‘John Lewis’
Level 4: Evaluation
4) Define the term ‘recession’ Recommend a recession management strategy for an LCD TV screen producer. Hint – this may be useful
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Note Level 1 – Level 4 are questions based on IB standards where
Level 1: Knowledge
Level 2: Application
Level 3: Analysis
Level 4: Evaluation
Words in bold (define, explain…) have a specific meaning in the IB Diploma Program (DP). The meanings are in Glossary of Command Terms Section of the IBO DP Business and Management Guide available at the OCC and from my website
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