A Level Economics AQA Practice Exam

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Study effectively for the A Level Economics AQA Exam. Utilize our quiz that includes multiple-choice questions, detailed explanations, and hints to help reinforce your understanding. Prepare yourself with the right knowledge and skills to excel in your exam!

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What is the main goal of a growth objective in a company?

Increasing product prices
Reducing operational costs
Enhancing market share of the product
Minimizing employee wages

The correct answer is: Enhancing market share of the product

The primary goal of a growth objective in a company typically centers around enhancing market share of the product. This focus on market share indicates a company's desire to expand its footprint in the industry, attract more customers, and ultimately drive revenue growth. By increasing market share, a business can improve its competitive position, potentially leading to higher sales volumes and profitability. While increasing product prices, reducing operational costs, and minimizing employee wages may be strategies used to increase profitability or manage expenses, they do not inherently reflect a growth objective. Focusing on these areas might aim for short-term financial improvements rather than the broader strategy of growth that involves capturing a larger segment of the market.