Business Studies Key Terms Revision

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BOSTON MATRIX

A way of showing the position of a firm's products in terms of their share of the market and in relation to the growth of its industry.(http://www.advice-for-good.com/blog/wp-content/uploads/2011/04/BCG_Matrix.png)

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BREAKEVEN

The output at which a firm's total revenue is equal to its total costs. This is called the break-even point. At this point the business is making neither a profit nor a loss(http://content.answcdn.com/main/content/img/barrons/accounting/New/images/break-evenanalysis1.jpg)

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BUSINESS CYCLE

Over a period of time business goes through a cycle. The cycle seems to have four phases:                               

(http://www.tutor2u.net/business/strategy/economy-business-cycle.jpg)

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