Business Studies Unit 2 Definitions

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Workload
The amount of work assigned to a particular worker, normally in a specified time period
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Workforce Role
The tasks involved in a particular level or grade of job
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Waste
A cost of production - sub-standard completed output or raw materials which are not retained in the production process
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Variance
The difference between the budgeted amount and what actually happens. A variance can be “positive” (favourable) or “negative” (adverse)
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USP
Unique Selling Point - a feature of a product or service that makes it stand out compared with the competition.
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Unit Cost
The average production cost per unit
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Other cards in this set

Card 2

Front

The tasks involved in a particular level or grade of job

Back

Workforce Role

Card 3

Front

A cost of production - sub-standard completed output or raw materials which are not retained in the production process

Back

Preview of the back of card 3

Card 4

Front

The difference between the budgeted amount and what actually happens. A variance can be “positive” (favourable) or “negative” (adverse)

Back

Preview of the back of card 4

Card 5

Front

Unique Selling Point - a feature of a product or service that makes it stand out compared with the competition.

Back

Preview of the back of card 5
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