KEY TERMS 0.0 / 5 ? Business StudiesGCSEAQA Created by: flora christodoulouCreated on: 24-04-13 14:54 CUSTOMER SERVICE providing services to customers before,during and after purchase, standards that meet their expectations 1 of 12 CONSUMER PROTECTION laws that protect the interests of consumers when buying goods or services 2 of 12 COMPUTERISED STOCK-CONTROL PROGRAMS the use of computers to keep records of all stocks and order necessary stock automatically 3 of 12 SPECIALISATION work is divided into seperate tasks or jobs that allow workers to become skilled at one of them 4 of 12 OPERATIONAL EFFICIENCY producing goods and services to an acceptable standard with as few resources as possible to keep costs per unit low 5 of 12 UNIT COSTS the average cost of making each unit 6 of 12 FRANCHISE the legal right to use the name and logo of an existing product and sell the same products 7 of 12 MARKET SHARE the proportion of market sales sold by the business 8 of 12 PRIVATE LIMITED COMPANY are answerable to shareholders or other people to make decisions for them 9 of 12 DEMAND the quantity that consumers are willing and able to buy at a set price level 10 of 12 CHANNELS OF DISTRIBUTION the method used to transfer goods or services, from the producer to the consumer 11 of 12 E-COMMERCE transactions between people and businesses carried out entirely via internet 12 of 12
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