a process by which firms make their products more attractive to customers, so that are prepared to pay for a higher price.
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What is a bank loan?
a flexible form of fincance raised by borrowing from a bank. The amount borrowed is paid back with interest and the size and length of the loan depends on the needs of the business.
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Break even chart
a graph that shows a firm's total revenue, fixed costs and total costs over a range of output levels from zero output to maximum capacity and the level of loss or profit made , this includes the point where the firm breaks even.
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what is a budget?
a financial plan designed to achieve a firms objectives. Budgets are usually set for a firm's income, expenditure and profit.
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what is a business plan?
a written document providing key info about a business and its market. The main sections are the firms long term objectives. its proposed marketing strategy , sources of finance and cash flow forecasts.
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what is meant by capital?
the funds used by a business coming either from owners or from lenders such as a bank loan.
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what is a consultant?
someone who provides advice or their expertise or knowledge on a certain aspect in business such as financial management.
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Other cards in this set
Card 2
Front
What is a bank loan?
Back
a flexible form of fincance raised by borrowing from a bank. The amount borrowed is paid back with interest and the size and length of the loan depends on the needs of the business.
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