Business Definitions 4.0 / 5 based on 2 ratings ? BusinessBusiness Definitions A2/A-levelOCR Created by: Richard98Created on: 16-09-16 20:18 5382910174 Across 1. - The factors that could prevent a business from entering and competing in a market. (4, 2, 7, 2, 5) 4. The difference between the actual price charged for a product or service and the actual cost of all the components and assembly of the product or service (6, 5) 8. The structures that support a society, such as transport links, telecommunications, education and health facilities, water supply, sewers and so on. If these are poor it will deter business location (14) 9. The maximum that a firm can produce in a given period with the available resources (8) 10. An internationally accepted standard for quality. It ensures that businesses have effective employees so that they can deliver can effective product (3) Down 2. - The point where total revenue is equal to total costs (TR=TC). At that point all costs have been covered. (4, 2, 5, 4) 3. A reduction in unit costs achieved as the scale of production increases (9, 2, 5) 4. The Advisory, Conciliation and Arbitration Service. It gives impartial advice and guidance on how to improve employer/employee relations (4) 5. - The cost of producing one unit = total costs / output. (4, 2, 4, 4) 7. ‘spirit’; if morale in an individual, group or team is high then there exists a spirit of confidence and purpose and vice versa (6)
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