Business GCSE
Price and cost advantage
What Price and cost advantage means in Business GCSE, as defined for AQA.
Definition of Price and cost advantage
Check what you remember
Read the wording for your board, then hide it and explain Price and cost advantage in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
Offering lower prices by sourcing or producing where costs are lower, or by achieving economies of scale, which can attract price-sensitive customers in overseas markets.
Topics that use Price and cost advantage
- Globalisation (AQA GCSE)
Related terms
- Competition
- Competitive pressure
- Competitiveness
- Cost and benefit
- Customer needs
- Differentiation
- Exchange Rate
- External risk and opportunity
Using Price and cost advantage in the exam
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