Business Studies Unit 2

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Expanding a business

Advertising-Paid-for communication, aimed at informing or persuading.

Agent-An intermediary who arranges transactions between suppliers and a customer.

Bad debt-Where a customer that has bought goods and services on credit, proves unable to pay the amount due.

Bank loan-A fixed amount loan from a bank which is generally used to finance long-term assets (such as land and machinery) The bank loan will have a rate of interest applied to it and repayment schedule.

Bankruptcy-When a business is no longer able to pay its debt. A bankrupt business does through insolvency procedures where the remaining assets (if they exist) are paid out to creditors.

Brand Extension-The use of a successful brand name to launch a new or modified product in a new market.

calculated risk-a decision taken after careful consideration of the risks involved and the potential rewards.

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