Business Studies Unit 1 0.0 / 5 ? Business StudiesUnit OneASAQA Created by: bethanylunn1999Created on: 19-02-16 11:10 Reasons for starting a business... Profit, Growth, Survival,Cash Flow, Ethics 1 of 18 What does SMART stand for... Specific, Measurable,Achievable, Realistic, Time Bound 2 of 18 Define the term Mission... the aims and long term objective for a business 3 of 18 What are the benefits of profit... Motivation, Future Investment, Satisfied stakeholders, Measure of Success, Source of finance 4 of 18 What is the formula for total revenue... Price * Quantity 5 of 18 Formula for total costs... Fixed costs + Variable costs 6 of 18 Name the different forms of business... Soletrader, Partnership, LTD, PLC, Non Profit 7 of 18 Name the two different sectors of business... Public & Private 8 of 18 What is the formula for market capitalisation... Outstanding shares * Current Market Price 9 of 18 What is the formula for ordinary share capital... Shares * Original Price Paid 10 of 18 Name the two types of external environment... General & Competitive 11 of 18 What does PESTLE stand for... Political, Economical, Social, Technological, Legal, Environmental 12 of 18 Influences on demand... Costs, Tastes and Fashion, Price, Price of substitutes, Marketing&Advertising, Seasonal Factors, Government Action Ect... 13 of 18 Name the different categories of demographics... Ageing Population, Geographic Shift, Ethnic Diversity, Size of Household 14 of 18 Why become greener... Good Reputation, Premium Pricing, Less interruption from pressure groups. 15 of 18 Name the Two types of income... Disposable&Discretionary 16 of 18 What happens when interest rates fall... Saving Decreases , Demand increases 17 of 18 What happens when interest rates rise... Saving Increases, Demand Decreases 18 of 18
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