Business Revision

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Copyright
Copyright protects works of art like music paintings and film where as patents are used for inventions
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Enterprise
Key enterprise skills are things such as: The ability to think ahead, a willingness to take risks showing initiative and being creative.
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Don’t forget that a “variable” cost is something that can change over time unlike a fixed cost that will remain the same over time.
Examples of a fixed cost are mortgage loan staff wages and insurance payments Examples of a variable cost are a commodity like steel coal or coffee beans
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Qualitative and Quantitative
Qualitative information is gained from peoples opinions and quantitative data is statistical
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Short term finance is borrowing money on a short term basis.
Examples of short term finance are trade credit and a bank overdraft.
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In a downturn things get bad like high unemployment and businesses will find it hard to sell their goods
If interest rates go down it is good for business because it means lower costs and consumers will buy more products so the shops sell more
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A business plan has to include a cash flow forecast an overview of the business and what it intends to achieve and details of any market research
Imports are goods that we buy from foreigners and exports are the goods that we sell to foreigners
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A private limited company has Limited liability and is owned by shareholders
Companies pay many kinds of taxes such as corporation tax VAT and national insurance contributions
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Other cards in this set

Card 2

Front

Key enterprise skills are things such as: The ability to think ahead, a willingness to take risks showing initiative and being creative.

Back

Enterprise

Card 3

Front

Examples of a fixed cost are mortgage loan staff wages and insurance payments Examples of a variable cost are a commodity like steel coal or coffee beans

Back

Preview of the back of card 3

Card 4

Front

Qualitative information is gained from peoples opinions and quantitative data is statistical

Back

Preview of the back of card 4

Card 5

Front

Examples of short term finance are trade credit and a bank overdraft.

Back

Preview of the back of card 5
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