MAMAKO course
AP Business with Personal Finance
for AP® Business with Personal Finance
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Unit 1 · Lesson
1.1 What Is a Business?
What a business is, how it creates and captures value, and the customers it serves.
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Question 1 of 5
Bramblewood Play Co.
Denise Okafor owns Bramblewood Play Co., which designs folding indoor climbing sets sized for toddlers. Daycare centers purchase the sets for their playrooms, where the toddlers enrolled at each center climb on them during the day. The table shows Bramblewood's current figures for one climbing set. Several elementary schools have recently asked Denise to build larger climbing structures for older students, but she has decided to keep Bramblewood focused on toddler equipment for daycare centers, reasoning that the company cannot serve every possible buyer well.
| Figure | Amount per set |
|---|---|
| Cost to produce | $45 |
| Selling price | $130 |
| Average value to daycare customers | $210 |
In the scenario, the daycare centers are customers and the toddlers are consumers. Which of the following changes would place the customer and the consumer of a climbing set in the same household?
Bramblewood Play Co.
Denise Okafor owns Bramblewood Play Co., which designs folding indoor climbing sets sized for toddlers. Daycare centers purchase the sets for their playrooms, where the toddlers enrolled at each center climb on them during the day. The table shows Bramblewood's current figures for one climbing set. Several elementary schools have recently asked Denise to build larger climbing structures for older students, but she has decided to keep Bramblewood focused on toddler equipment for daycare centers, reasoning that the company cannot serve every possible buyer well.
| Figure | Amount per set |
|---|---|
| Cost to produce | $45 |
| Selling price | $130 |
| Average value to daycare customers | $210 |
Denise is weighing new prices for the climbing sets. Based on the table, which price would increase the value Bramblewood captures on each set while still leaving daycare customers a share of the benefit the sets deliver?
Bramblewood Play Co.
Denise Okafor owns Bramblewood Play Co., which designs folding indoor climbing sets sized for toddlers. Daycare centers purchase the sets for their playrooms, where the toddlers enrolled at each center climb on them during the day. The table shows Bramblewood's current figures for one climbing set. Several elementary schools have recently asked Denise to build larger climbing structures for older students, but she has decided to keep Bramblewood focused on toddler equipment for daycare centers, reasoning that the company cannot serve every possible buyer well.
| Figure | Amount per set |
|---|---|
| Cost to produce | $45 |
| Selling price | $130 |
| Average value to daycare customers | $210 |
Which of the following best explains why Denise's decision to decline the elementary schools' requests reflects sound business reasoning?
Which of the following best defines the value of a product?
Working alone from her apartment, Greta Lindqvist edits podcast episodes for paying clients she has never met in person, delivering the finished audio files online. Which statement best explains whether Greta's operation qualifies as a business?
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