Business Forms

HideShow resource information
Why does a business exist
create employment, create wealth, create new products, enhance a country's reputation
1 of 17
inputs
people, finance, capital requirement, land & natural resources, materials
2 of 17
outputs
goods, services, waste
3 of 17
primary
farming
4 of 17
secondary
manufactoring
5 of 17
tertiary
services
6 of 17
smart aims
specific, measurable, agreed, realistic, time specific
7 of 17
business objectives
profit/profit maximisation, growth, survival, cash flow, social and ethical objectives, diversification
8 of 17
total costs formula
fixed costs + variable costs
9 of 17
profit formula
selling price - cost
10 of 17
GDP
gross domestic product: measures the total value of the production on an economy over a period of time, normally one year
11 of 17
mission statement
sets out a business's overall purpose to direct and stimulate the entire organisation
12 of 17
private sector
owned by shareholders or individuals
13 of 17
sole trader
don't have to set up just declare profits to HMRC
14 of 17
incorporation
the process of establishing a business as a separate legal identity that allows it to benefit form legal identity
15 of 17
market capitalisation
the total value of the issued shares of a plc
16 of 17
privatisation
when the government sells their business to shareholders or private individuals
17 of 17

Other cards in this set

Card 2

Front

people, finance, capital requirement, land & natural resources, materials

Back

inputs

Card 3

Front

goods, services, waste

Back

Preview of the back of card 3

Card 4

Front

farming

Back

Preview of the back of card 4

Card 5

Front

manufactoring

Back

Preview of the back of card 5
View more cards

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all business forms resources »