business 0.0 / 5 ? Business Studies & Economicsmissing cardsA2/A-levelAQA Created by: evierutherford1999Created on: 13-03-18 15:00 what are assets? anything of value that can be made to yield benefits 1 of 39 what si a bank loan? a fixed sum of money borrowed from a bank and repaid with regularly monthly repayments plua interest rates 2 of 39 what is the bank of england? central bank of the uk - responsible for regulation 3 of 39 what are banks? a channel fund from savers to borrowers 4 of 39 what is a brand? the name or symbol that is closely linked with a product or service 5 of 39 what are cashfow forcasts? projected expected cash flows of cash income and expenditure per month 6 of 39 what is competition? it causes businesses to strive for improvements that will allow them to increase sales 7 of 39 what is competitive pricing? a priceing strategy that consists of matching your competitors pricing or slightly undercutting them 8 of 39 what are complements? goods or services that are brought together 9 of 39 what is a creditor? a person or company that the business owes money to 10 of 39 what is the demand curve ? geographical reputation of the relationship between price and quantity 11 of 39 what is entry? refers to the way profit in growing markets attracts businesses to produce for it 12 of 39 what is equilibrium price? the price at which quantity demanded is the same a quanitity supplied 13 of 39 what is exit? closing down production 14 of 39 what are exports? good and services produced domestically and sold in a foreign market 15 of 39 what is gross domestic product(GDP)? a measure of the total value of all goods and services produced 16 of 39 what is government expenditure? the money spent in the economy over a period of time 17 of 39 what is gross profit? turnover minus cost of sales 18 of 39 what are imports? goods and services bought by buyers in one country from sellers in another 19 of 39 what are inferior goods? sell better when incomes are falling 20 of 39 what is limited liability? the responsibility for any outstanding debts is limited to owners initial investment 21 of 39 what is a market? any medium in which buyers and seller interact and agree to trade 22 of 39 what is market clearing? it means there is no excess supply and no excess demand 23 of 39 what is market growrh? it is an expansion of thr market based on increased sales 24 of 39 what is market oreintation? where the needs of the customer are the priority in the production process 25 of 39 what is market segmentation? the splitting up of the market into different groups of consumers. 26 of 39 what is market share? the percentage of the total market buying one firms product 27 of 39 what is mass market? a large market which includes the majority of relevany population 28 of 39 what is operating profit margin? operating profit shown as a percentage of the turnover 29 of 39 what is oppertunity cost? represenst the cost in terms of an alternative to item actively chosen 30 of 39 what si overdraft? a facility that allows a business to borrow up to an agreed limit 31 of 39 what is orginal share capital? money raised by selling the ordinary share of plcs 32 of 39 what is a PLC? pubpic limited company - limitied liability - shares are available to te public 33 of 39 what is the private sector? part of the economy which is run for private profit 34 of 39 whta is profit signalling mechanism? the incentive profit induces a business to produce what customers want 35 of 39 what is satisficing? when a business earns enough to keep its owners happy 36 of 39 what is structural change? when patterns of demand change - some firms grwo while others sink 37 of 39 what is atrade off? having more of one thing and less of another 38 of 39 what is venture capital? a form of business finance - provided by individuals in return for a portion of the companys shares. 39 of 39
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