Business and Economics - Key Terms Key Terms test 3.5 / 5 based on 7 ratings ? Business Studies & EconomicsGCSEAll boards Created by: Former MemberCreated on: 06-02-10 15:23 What are 'Fixed Costs'? Cost that don't change with output 1 of 7 What is an 'Asset'? Things that a company owns that have value 2 of 7 What is 'Liquidity'? The ability of a business to pay its bills 3 of 7 What is a 'Take-over'? When a firm buys enough shares of another to control the decisions made (effectively buying it out) 4 of 7 What is a 'Trade off' ? Weighing up advantages and disadvantages of a decision 5 of 7 Therefore, What is 'Capital'? Stored up wealth 6 of 7 What is 'The Poverty Line'? A level of income, below which Standard of living is too low to be accepted 7 of 7
GCSE Business studies unit 5 - intro to economic understanding revision notes 4.5 / 5 based on 17 ratings
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