Business Terminology 3.1.1

?
  • Created by: torib101
  • Created on: 24-04-16 18:32
Business Objective
Quantifiable targets or goals to be achieved within a given time frame.
1 of 6
Mission Statement
A formal statement that sets out what a business wants to achieve in an aspirational manner
2 of 6
Revenue (turnover and sales)
Total amount of money coming into a business from the sales of a good or service in a specified time period. SELLING PRICE x QUANTITY SOLD
3 of 6
Fixed Costs
Costs to a business that stay the same regardless of output
4 of 6
Variable Costs
Costs to a business that change in relation to output.
5 of 6
Total Costs
All of the costs associated with the business. FIXED COSTS + VARIABLE COSTS
6 of 6

Other cards in this set

Card 2

Front

A formal statement that sets out what a business wants to achieve in an aspirational manner

Back

Mission Statement

Card 3

Front

Total amount of money coming into a business from the sales of a good or service in a specified time period. SELLING PRICE x QUANTITY SOLD

Back

Preview of the back of card 3

Card 4

Front

Costs to a business that stay the same regardless of output

Back

Preview of the back of card 4

Card 5

Front

Costs to a business that change in relation to output.

Back

Preview of the back of card 5
View more cards

Comments

No comments have yet been made

Similar Business resources:

See all Business resources »See all Glossary resources »