AQA AS Business Unit 1 - Revision Terms.

1. Adviser. an external contact of a business who provides support and advice sometimes for free.

2. Bank Loan. A fixed amount loan from a bank which is generally used to finance long term assets.

3. Bank Overdraft. Borrowings from a bank on a current account which are payable on demand.

4. Break-even. The point at which the total sales of a business equal total costs, so when the business has made enough money to pay all of the costs such as electric bills.

5. Budget. a detailed plan of income and expenses expected over a certain period of time.

6.Business Angel. a particular type of investor, usually a successful entrepreneur, who is willing to invest in high risk, high growth firms at a very early stage.

7. Business plan. a detailed description of a new or exsisting business, including the company's strategy, aims and objectives, marketing and financial plan.

8. Cash flow. the movements of money into and out of the business.

9. Cash flow forecast. a projection, usually by week or month, of the likely cah inflows and outflows in a business.

10. Contribution. the difference between total sales and total variable costs.

11.costs. amounts incurred by a businss as a result of its trading operations.

12. demand. the amount of product or service that customers are willing and able to pay at a given time.

13. Demographic segmentation. defining a market in terms of social economic factors such as…