a sum of money provided to a firm or an individual by a bank for a specific, agreed purpose
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Card 7
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money received by an organisation in return for the organisations agreement to pay interest during the period of the loan and to repay the loan within an agreed time
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Card 8
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money given to a company by shareholders in return for a share certificate that gives them part ownership of the company and entitles them to a share of the profits
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Card 9
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any group of individuals with an interest in a business. this includes employees, customers, shareholders and the local community
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Card 10
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a business with limited liability; a share capital of over £50,000; at least two shareholders, two directors, a qualified company secretary; and, usually, a wide spread of shareholders
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Card 11
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a small to medium-sized business that is usually run by the family or the small group of individuals who own it
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Card 12
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a business owned by one person. the owner may operate on his or her own or may employ other people
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Card 13
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the difference between total revenue and total variable costs
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Card 14
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costs that vary directly with output in the short run (e.g. raw materials)
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Card 15
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costs that do not vary directly with output in the short run (e.g. rent, wages)
