business studys key words 0.0 / 5 ? Business Studies-IGCSEEdexcel Created by: shrishri123Created on: 21-11-15 09:41 placing adverts using the media above the line promotion 1 of 18 similar to the current ratio but excludes stock from current assets. sometimes called quick ratio. acid test ratio 2 of 18 Communication between a business and its customers whereby messages are placed in the media to encourage the purchase of products Advertising 3 of 18 An intermediary that brings together buyers and sellers Agent or broker 4 of 18 an attempt by firms to prevent or restrict competition Anti-competitive practices or restrictive trade practices 5 of 18 Resources used or owned by the business in production Assets 6 of 18 Areas that are designated as having economic problems by the UK or EU and are eligible for support in a variety of forms. Assisted areas 7 of 18 an accounting procedure which checks thoroughly the accuracy of a company’s accounts Auditing 8 of 18 The right to command and make decisions Authority 9 of 18 The difference between visible exports and visible import Balance of trade or visible balance 10 of 18 A summary at that time of business assets, liabilities and capital Balance sheet 11 of 18 Obstacles that make it difficult for new firms to enter a market barriers to entry 12 of 18 A method which involves completing one operation at a time on all units before performing the next Batch production 13 of 18 Any promotion that does not involve using the media Below-the-line promotion 14 of 18 A payment in addition to the basic wage for reaching targets or in recognition for service Bonus systems 15 of 18 A 2 x 2 matrix which describes products according to the market share they enjoy and whether the market has any potential for growth Boston matrix 16 of 18 the name of a product which consumers see as being different from those of rivals Brand names 17 of 18 The level of output where total costs and total revenue are exactly the same. Neither a profit nor a loss is made Break-even 18 of 18
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