Unit 1 Key Terms (2)
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- Created by: hannahx
- Created on: 01-01-13 17:02
the percentage change in sales (volume or value) over a period of time
market growth
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the volume of sales of a product or the value of sales of a product
market size
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where a firm uses quantitative and qualitative data or information to try to discover the types of consumer who buy its products and why
segmentation analysis
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the classification of customers or potential customers into groups or sub-groups, each of which responds differently to different products or marketing approaches
market segmentation
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the amount of a product or service that consumers are willing and able to buy at any given price over a period of time
demand
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a sum of money provided to a firm or an individual by a bank for a specific, agreed purpose
bank loan
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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
loan capital
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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
ordinary share capital
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any group of individuals with an interest in a business. this includes employees, customers, shareholders and the local community
stakeholders
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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
public limited company
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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
private limited company
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a business owned by one person. the owner may operate on his or her own or may employ other people
sole trader
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the difference between total revenue and total variable costs
total contribution
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costs that vary directly with output in the short run (e.g. raw materials)
variable costs
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costs that do not vary directly with output in the short run (e.g. rent, wages)
fixed costs
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based on opinions and wishes of individuals. These factors can influence business decisions because an entrepreneur will want to include his or her own wishes and preferences in decisions taken
qualitative factors
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the network of utilities, such as transport links, sewerage, telecommunications systems, health services and educational facilities
infrastructure
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the business location that allows a firm to minimise its costs
least cost site
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working in a location that is separate from a central workplace, using telecommunication technologies
teleworking
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money that is provided by the owner(s) of the business from their own savings or personal wealth
personal sources of finance
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finance that is provided to small or medium-sized firms that seek growth but which may be considered as risky by typical share buyers or other lenders
venture capital
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when a bank allows an individual or organisation to overspend its current account in the bank up to an agreed limit and for a stated time period
bank overdraft
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the ability to convert an asset into cash without loss or delay
liquidity
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a description of how cash flowed into and out of a business during a particular period of time
cash flow statement
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the process of estimating the expected cash inflows and outflows over a period of time.
cash flow forecasting
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the sum of cash inflows to an organisation minus the sum of cash outflows over a period of time
net cash flow
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study of the relationship between total costs and total revenue to identify the output at which a business breaks even (i.e. makes neither profit or loss)
breakeven analysis
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an agreed plan establishing, in numerical or financial terms, the policy to be persued and the anticipated outcomes of that policy
budget
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the production and use of financial and accounting information for internal purposes of planning, review and control. It is based on predictions of what will happen and analysis of the actual outcomes in comparison to the original plans
management accouting
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Other cards in this set
Card 2
Front
the volume of sales of a product or the value of sales of a product
Back
market size
Card 3
Front
where a firm uses quantitative and qualitative data or information to try to discover the types of consumer who buy its products and why
Back
Card 4
Front
the classification of customers or potential customers into groups or sub-groups, each of which responds differently to different products or marketing approaches
Back
Card 5
Front
the amount of a product or service that consumers are willing and able to buy at any given price over a period of time
Back
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