Glossary Page 3

HideShow resource information
Entrepreneur
An entrepreneur is an individual who sets up and runs a new business and takes on the risks associated with the business.
1 of 10
Expenditure Budget
An expenditure budget is the budget which sets out the expected costs to be incurred by the firm, usually split into various categories.
2 of 10
Fixed Costs
Fixed costs are costs that do not vary with the level of output.
3 of 10
Franchisee
A franchisee is the person or company which operates a franchised business format - under license from a franchisor.
4 of 10
Franchisor
A franchisor is the owner of a franchise which is licensed out to other people or businesses.
5 of 10
Full Time Employee
A full time employee is an employee who works more than 30 hours a week in a business.
6 of 10
Income Budget
An income budget is the budget which sets out estimates of the likely demand for and value of the firm's sales.
7 of 10
Inputs
Inputs is the resources that go into producing goods and services.
8 of 10
Limited Liability
Limited Liability is when shareholders are only liable for the money they have invested - not for overall debts and liabilities of their company.
9 of 10
Location
Location is the place from which a firm does business.
10 of 10

Other cards in this set

Card 2

Front

Expenditure Budget

Back

An expenditure budget is the budget which sets out the expected costs to be incurred by the firm, usually split into various categories.

Card 3

Front

Fixed Costs

Back

Preview of the front of card 3

Card 4

Front

Franchisee

Back

Preview of the front of card 4

Card 5

Front

Franchisor

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all Glossary Page 3 resources »