Business Gcse Key Terms
Business Gcse Key Terms. A way of considering fairness in the distribution of income and wealth and in the outcome of economic activities. +44 0844 800 0085 fax:
A managerial approach which focuses on quality and aims to improve the effectiveness, flexibility and competitiveness of the business. +44 0844 800 0085 fax: Business plans are based on forecasts and so cover only a short time.
Theme 2 Building A Business 1.
I use these in my lessons for the pupils to refer back to each lesson. Terms of their impact on future welfare and resources; Paper 1 key term definition learnt primary research first hand research, gathering information direct from consumers, e.g.
Key Terms For Theme 1 Theme 1:
Most economies experience times when economic activity is rising and others when economic activity is slowing. Gcse business studies is designed for students finishing secondary school to learn skills for running a business, such as managing money, advertising and employing staff. Added value ‐ the difference between the cost of the materials taken to make a product and the price that is charged for the product.
Integration Is When One Firm Is Integrated Into Another One.
The legal right to use the name and logo of an existing firm and sell the same products/services. Fluctuations in the level of economic activity over a period of time. Internal growth occurs when a business expands its existing operations.
Business Plans Are Based On Forecasts And So Cover Only A Short Time.
Cram.com makes it easy to get the grade you want! A pricing strategy where the product is sold at a. Gcse business studies unit 3 keywords and definitions fixed costs costs which do not vary with the amount produced, such as rent, business rates, advertising costs, administration costs and salaries variable costs costs which change directly with the number of products made by a business, such as the cost of buying raw materials
A Business Which Operates In Atleast 2 Countries, Usually Both Selling Products And Producing Them.
These are all of the key words from each unit from the ocr gcse specification for business, straight from their text book. Profit occurs when the revenues of a business are greater than its costs over a period of time. A business which sells (or supplies) products to another business.
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