Business Key Terms 0.0 / 5 ? Business StudiesKey TermsGCSEAQA Created by: eloiseperry28Created on: 01-03-16 12:39 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
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