Adding Value - changing inputs in a way that consumers see as beneficial.
Aggregate Demand - measure of all the spending in the economy.
Assertion - making a claim not supported by evidence.
Assets - something that is useful or valuable. Premises, equipments and goodwill are examples.
Autocractic - dictorial power. Decisons handed down for implemation.
Bank Loan - fixed amount borrowed from a bank, normally with set repayments of the loan plus interest over a fixed period.
Benefits - payments from the government, for example children.
Brand - names on product labels. Well - known band is a valuable asset.
Brand image - Many business angle their marketing to try give their brand a desired characteristic.
Break Even point - level of output at which fixed and variable costs are just covered. At 0.
Business Plan - document setting out a proposal for a business. Great way to raise capital.
Cash Flow - A calculation of cash coming into a business and payments going out. Cash flow projections are important in planning.
Collateral - something of value used to gurantee a repayment eg. a house.
Commodity product - standard item. No differentation between output of alternate supplier. Minerals and basic foods.
Consumer Price Index - a measure of the rate of inflation. Basedon spending of consumers.
Contribution - Revenue gained from a scale - direct costs. I can meet fixed costs or be part of profit once fixed costs have been covered.
Corportate Resposibilty -