Glossary Page 4

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Margin of Safety
Margin of safety is the difference between actual level of output and the break even output.
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Market
A market is any place where buyers and sellers come together with a view to exchanging transactions.
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Market Growth
Market growth is the percentage growth in the size of the market, measured over a specific period.
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Market Research
Market research is the process of planning, collecting, and analysing data relevant to help make marketing decisions.
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Market Segmentation
Market segmentation is the process of dividing a market into smaller sections which contain customers with similar needs and wants.
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Market Share
Market share is the share of the total market that is owned by a particular business, product or brand. The firm with the largest percentage is known as the market leader.
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Market Size
Market size is the total value or quantity of demand in a specific market over a specific period of time.
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Niche Market
A niche market is a smaller part of a larger market in which customers have more specific needs and wants.
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Opportunity Cost
Opportunity cost is the cost of a decision as measured by the benefits foregone of the next best alternative.
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Card 2

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Market

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A market is any place where buyers and sellers come together with a view to exchanging transactions.

Card 3

Front

Market Growth

Back

Preview of the front of card 3

Card 4

Front

Market Research

Back

Preview of the front of card 4

Card 5

Front

Market Segmentation

Back

Preview of the front of card 5
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