Edexcel - Business Studies Unit 1: Introduction into small business

Revison cards with key terms and important information.

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Entrepeneur

A person who owns and runs their own business and takes risks.

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Enterprise

Another word for business.

 

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Enterprise

A willingness by an individual to take risks, show initiative and undertake new ventures.

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Risk

The chance of damage or loss occuring as a result of making a decision.

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Recruitment Process

Documents used in the recruitment process inlcude:

  • Job description
  • Job advert
  • Application form
  • Curriculum Vitae (CV)
  • Person Specification
  • Job Particulars (more detailed than job advert)

 

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Fixed Costs

A cost to a business that does not vary (stays the same) in relation to the output produced.

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Fixed Costs

  • Rent
  • Business Rates
  • Advertising Costs
  • Administration costs
  • Salaries
  • Insurance
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Variable Costs

A cost that changes directly with the number of products made by a business.

 

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Comments

Shoyab

You gotta be kidding me? You need to have more details, I wouldn't even put that on my revision card -.-

Shoyab

You gotta be kidding me? You need to have more details, I wouldn't even put that on my revision card -.-

Imogen Barnard

well that sucked....

harshil

WORST REVISION CARDS EVER!...sorry :/

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