the difference between the price of the finished product and the cost that it took to make it.
1 of 6
adding value
Increasing the value of a product/service by adding/changing them during the production process
2 of 6
Bank loan
A fixed amount of loan from a bank, normally used for long term assets such as land or machinery. advantages: can get a lot of money, reasonably quickly. disadvantages: interest is applied and a scheduled time to repay
3 of 6
overdraft
borrowing money from the bank where you can get it on demand. advantages: can get any amount of money within agreed limit whenever you want. disadvantages: very high interest amount calculated daily depending on how much is borrowed
4 of 6
Bia's
Used in terms of market research, a factor which causes unrepresentative market research results.
5 of 6
Break-even
where total sales are equal to the total costs. the business is making no profit or loss.
6 of 6
Other cards in this set
Card 2
Front
Increasing the value of a product/service by adding/changing them during the production process
Back
adding value
Card 3
Front
A fixed amount of loan from a bank, normally used for long term assets such as land or machinery. advantages: can get a lot of money, reasonably quickly. disadvantages: interest is applied and a scheduled time to repay
Back
Card 4
Front
borrowing money from the bank where you can get it on demand. advantages: can get any amount of money within agreed limit whenever you want. disadvantages: very high interest amount calculated daily depending on how much is borrowed
Back
Card 5
Front
Used in terms of market research, a factor which causes unrepresentative market research results.
Comments
No comments have yet been made