Starting a business - key terms 0.0 / 5 ? Business StudiesStarting a businessGCSEAQA Created by: MORGANKerCreated on: 14-04-14 17:52 What is a franchise? the leagal right to use the name and logo and sell the products of an existing firm. 1 of 7 What is market share? The proportion of total market sales sold by one business. 2 of 7 What is a forecast? When a business estimates future sales or other variables. 3 of 7 What is a sole trader? When often one person owns the business and has unlimited liability. 4 of 7 What is unlimited liability? The owners are responsible for all the businesses debt. 5 of 7 What is an incorporation? A company such as a private limited company or plc that have limited liability. 6 of 7 What is turnover? The value of sales made during a trading period (revenue) 7 of 7
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