A process through which a business increases the worth of the resources included in production so that customers perceive the product to be worth more than the cost of the inputs
1 of 5
Adviser
An external contact of a business that provides support and advice, sometimes for free
2 of 5
Bank loan
A fixed amount loan from a bank which is generally used to finance long-term assets
3 of 5
Bank overdraft
Borrowings from a bank on a current account which are payable on demand
4 of 5
Breakeven output (or point)
The point at which the total sales of a business equal total costs -i.e. the business is making neither a profit nor a loss
5 of 5
Other cards in this set
Card 2
Front
An external contact of a business that provides support and advice, sometimes for free
Back
Adviser
Card 3
Front
A fixed amount loan from a bank which is generally used to finance long-term assets
Back
Card 4
Front
Borrowings from a bank on a current account which are payable on demand
Back
Card 5
Front
The point at which the total sales of a business equal total costs -i.e. the business is making neither a profit nor a loss
Comments
No comments have yet been made