business

what are the disadvantages of having a sole trader
to keep up with demand
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what are the advantages of having a sole trader
no sharing of profits,to make your own decision
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what is the definition of cash flow
Money going in and out of the business
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average cost formula
total cost divided by output
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net cash flow formula
cash inflow-cash outflow
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what is bad cash flow
bad cash flow is where there is not enough money coming into the business which could mean the company goes bankrupt
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total costs formula
fixed costs+variable costs=total costs
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what is direct costs
direct costs is the expenses to make a certain product
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examples of direct costs
labour, raw material and machinery
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disadvantages of a public limited company
possibility of takeover,cost of setting and operating
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advantages of a public limited company
to borrow money easier,ability to raise large amounts of capital
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secondary research methods
purchased research material, competitors data, government publications and statistics, books, newspapers, trade
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advantages of partnerships
more experience and share decision making
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disadvantages of partnerships
a possible conflict
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advantages of limited private company
can raise more money easily and shares usually controlled by the family
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disadvantages of limited private company
financial information available
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The 4p's in the marketing mix
price, place, product and promotion
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the disadvantages of market research
expensive, time consuming, and the research could have errors
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Things used in the market segmentation
age, gender, income, region
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revenue formula
revenue=sales*price
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Other cards in this set

Card 2

Front

what are the advantages of having a sole trader

Back

no sharing of profits,to make your own decision

Card 3

Front

what is the definition of cash flow

Back

Preview of the front of card 3

Card 4

Front

average cost formula

Back

Preview of the front of card 4

Card 5

Front

net cash flow formula

Back

Preview of the front of card 5
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