Business Key Terms

HideShow resource information
Also called an acquisition. Occurs when one business gains control (buys) another business.
Takeover
1 of 9
Occurs when two or more businesses join together to form a new business.
Merger
2 of 9
The reasons why average costs of each item falls as a firm expands (think buying in bulk).
Economies of scale
3 of 9
Are made up customers from across the world.
Global Markets
4 of 9
Is the act of selling a product using the internet.
E-Commerce
5 of 9
Work is divided into separate tasks or jobs that allow workers to become skilled at one of them.
Specialisation
6 of 9
The average cost of making each unit.
Unit Cost
7 of 9
Producing goods and services to an acceptable standard with as few resources as possible to keep costs per unit low.
Operational Efficiency
8 of 9
laws that protect the interests of consumers when buying goods or services.
Consumer Protection
9 of 9

Other cards in this set

Card 2

Front

Merger

Back

Occurs when two or more businesses join together to form a new business.

Card 3

Front

Economies of scale

Back

Preview of the back of card 3

Card 4

Front

Global Markets

Back

Preview of the back of card 4

Card 5

Front

E-Commerce

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 Key Terms resources »