AS Business Studies Revision Guide (AQA)

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AS Business Studies Revision Guide (AQA)
Total revenue = price x quantity sold
Total costs = fixed costs + variable costs
Variable costs = variable cost per unit x quantity sold
Profit = revenue costs
Contribution per unit = selling price variable cost per unit
Total contribution = revenue total variable costs
Breakeven = fixed costs ÷ (selling price variable cost)
Margin of safety = current output breakeven point
Gross profit = sales revenue variable costs
Gross profit margin = (gross profit ÷ sales revenue) x 100
Net profit = sales revenue total costs
Net profit margin = (net profit ÷ sales revenue) x 100
Return on capital = (net profit ÷ capital invested) x 100
Labour productivity = output ÷ number of employees
Labour turnover = number of employees leaving ÷ total employees
Absenteeism = days absent ÷ total days worked
Capacity utilisation = current output ÷ maximum output
Variance (adverse/favourable) = actual performance budgeted performance
Unit cost = total cost ÷ output
Business Advantages Disadvantages
Sole trader
Partnership
Public limited company
(PLC)
Private limited company
(Ltd.)
Part of Advantages Disadvantages
the
franchise
Franchisor
Franchisee
Type of Description Advantages Disadvantag
research es
Primary
research

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Secondary
research
Quantitative
research
Qualitative
research
Random
sampling
Quota
sampling
Stratified
sampling
Source of Description Short/long Advantages Disadvantage
finance term s
Owner's
savings
Sale of assets
Retained profit
Overdraft
Trade credit
Leasing
Hire purchase
Bank loan
Debentures
Mortgage
Venture capital
Share capital…read more

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Flat (delayered)
Type of pay Description Advantages Disadvantages
Time based pay
Piece pay
Commission
Performance related
pay
Profit related pay
Employee share
ownership
programme
Fringe benefits
Job enrichment
Job enlargement
Job rotation
Theory Description Advantages Disadvantages
Herzberg
Maslow
Taylor
Mayo
Factors of production:
Capital money to buy machinery, tools, offices
Entrepreneurship bringing together all the factors
Land shops, offices, factories
Labour physical and mental effort
Ways to add value:
Build brand
Good customer service
Add product features and benefits…read more

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Operate efficiently
Offer convenience
Have a unique selling point
Capacity utilisation Advantages Disadvantages
High capacity utilisation
Low capacity utilisation
Quality system Description Advantages Disadvantages
Any quality system
Total quality
management
Quality
control/assurance…read more

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