unit 1 0.0 / 5 ? Business StudiesBusiness PlansASAQA Created by: 08wongcCreated on: 16-05-14 11:45 Something that increases the price of the product addedvalue 1 of 38 External contact that provides you with advice advisor 2 of 38 A fixed amount of money, long term assets bankloan 3 of 38 Borrowing an amount of money that should be payed back in an agreed time period bankoverdraft 4 of 38 The point where total sales of a business is equalled to the total cost. So no profit or a loss has been made breakevenpoint 5 of 38 A detailed plan of income and expenses expected over a time period budget 6 of 38 A detailed description of a new business' financial,marketing and aims and objectives businessplan 7 of 38 The movement of cash outflows and cash inflows cashflow 8 of 38 A prediciton of the likely expected cash inflows and outflows of the business cashflowforecast 9 of 38 The difference between selling price pre unit and the variable cost per unit contributionperunit 10 of 38 The desire for a product that customers are willing to pay for at a given time demand 11 of 38 Defining the market in terms of factors such as age,income,sex,class demographic 12 of 38 The responsiveness of demand to a change in price or incomes elasticityofdemand 13 of 38 The budget which sets out the expected costs by the business,usally split into categories expenditurebudget 14 of 38 The costs that do not change with the level of ouput,e.g.sales,rents fixedcosts 15 of 38 The owner of a business that sells the right for other people to use thei business model franchisor 16 of 38 Someone that purchases the legal rights to use another business' business model franchisee 17 of 38 The budget which predicts the number of sales and demand for a product incomebudget 18 of 38 Owners of the business are liable for the money they have invested , not the debts of the company limitedliability 19 of 38 The difference between the actual level of ouput and the break even output marginofsafety 20 of 38 The 5 growth in the size of the market, measured over a time period marketgrowth 21 of 38 The % share of the total market that is owned by a particular business marketshare 22 of 38 The cost of an activity that has to be given when making a choice opportunitycost 23 of 38 The legal right to produce a certain product or process patent 24 of 38 The legal right to use someone's media,film,book copyright 25 of 38 The legal right to use somebodys logo,symbol trademark 26 of 38 The difference between total sales and total costs profit 27 of 38 Market research collecting data on peopels opinions,views,beleifs qualitativeresearch 28 of 38 Market research collecting data on statistics quantitativeresearch 29 of 38 The income or sales that a business acheives in a period of time. Selling price pre unit x units sold revenue 30 of 38 The probability or chance that predicted outcomes will not occur risk 31 of 38 In market research, a sample is a subset of a population sample 32 of 38 A one person business with unlimited liability for the debts of the business soletrader 33 of 38 Variable costs and fixed costs totalcosts 34 of 38 Sole traders and partnerships unlimitedliability 35 of 38 The costs that change directl in in relation to the output variablecosts 36 of 38 Investment made to finance the start up and early department of the business venturecapital 37 of 38 The amount of money that a business has available to conduct its day-to-day activities workingcapital 38 of 38
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