business studies 1.3 keywords

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Market share
The proportion of sales in a market that are taken by one business
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Profit
The amount of revenue left over once costs have been deducted
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Social objectives
Likely to be non-financial, such as to reduce the carbon emissions of a business or improve the quality of life for a local community
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Income stream
The source of regular income that a business receives. This could be through the money it receives from customers, or other seas such investment income
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Viable
Capable of working or succeeding
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Income statement
A financial statement showing the amount of money earned and spent in a particular period and resulting profit and loss
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Stakeholder
Anyone who has an interest in the activities of a business, such as its workers, its suppliers, the local community and the government
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Break-even point
The point where revenue received meets all of the costs of the business
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Credit
The amount of money that a financial institution or supplier will allow a business to use, which it must pay back in the future at an agreed time
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Overheads
Fixed costs that come from running an office, shop or factory, which are not affected by the number of specific products or services that are sold
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Insolvent
A business that is unable to pay its debts and/or owes more money than it is owed
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Consumables
Items that get ‘used up’, such as pens, paper, staples and other items that a business has to replace regularly
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Trade credit
A credit arrangement that is offered only to businesses by suppliers
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Overdraft
A facility offered by a bank that allows an account holder to borrow money at short notice
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Cheque
A written order to a bank to pay an amount of money from an account holder’s account to a specified person
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Venture capital
Money to invest in a business is sourced from individuals, or groups of people, who wish to invest their own money into new businesses
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Return on investment
The amount of money that an investor gets back in return for investing a business
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Shareholders
Investors who are part-owners of a company
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Share capital
Money to invest in a business is raised by the business issuing shares that it then sells to those who wish to invest in the company
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Credit check
A check on the financial status of a business or individual to ensure that the business or the individual has a reliable credit history and does not have any existing outstanding debts
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Security
When the lenders asks the borrow to put up an asset, such as a house, or a valuable item owned by the business
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Asset
Any item of value that a business owns, such as its machinery or premises
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Guarantor
A named person who guarantees to pay the repayments on a loan should the person who has taken out the loan not be able to make the payments
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Retained profit
Money that a business keeps, rather than paying out to its shareholders
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Other cards in this set

Card 2

Front

The amount of revenue left over once costs have been deducted

Back

Profit

Card 3

Front

Likely to be non-financial, such as to reduce the carbon emissions of a business or improve the quality of life for a local community

Back

Preview of the back of card 3

Card 4

Front

The source of regular income that a business receives. This could be through the money it receives from customers, or other seas such investment income

Back

Preview of the back of card 4

Card 5

Front

Capable of working or succeeding

Back

Preview of the back of card 5
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