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40 questions
Difference between the cost of the materials taken to make a product and the price that is charged for the product = ???
Break even
Raw materials
Added value
Sole trader
The goals of a business. These may be financial or non‐financial = ???
Aims and objectives
Limited liability
Globalisation
e-commerce
The number of products a business must sell so that its total revenue is the same as its total costs. At this point the business will make no profit or loss = ???
Sales revenue
Net profit
Gross profit
Break even
A plan for the development of a business, giving details such as the products to be made, resources needed, and financial forecasts = ???
Aims and objectives
Business plan
Source of finance
Crowdfunding
The flow of money into and out of a business over a period of time. = ???
Break even
Net profit
Fixed asset
Cash flow
Money coming into the business. E.g. Revenue, a loan or another source of finance = ???
Cash inflow
Cash outflow
Net cash flow
Closing balance
Money leaving the business. E.g. Wages, suppliers, loan repayments or advertising = ???
Cash inflow
Net cash flow
Cash outflow
Opening balance
The amount of money left at the end of the month = ???
Opening balance
Cash inflow
Closing balance
Net cash flow
What the consumer is entitled to by law = ???
Consumer rights
Health and safety act
Added value
Unlimited liability
Where a large number of individuals invest into a business project on internet sites = ???
Overdraft
Crowdfunding
Bank loan
Retained profit
What the customer wants, these can change over time. E.g. Price, quality, choice or convenience. = ????
Inflation
Primary research
Exchange rate
Customer needs
The characteristics of the population in terms of age and gender = ???
Focus group
Demographics
Gap in the market
Secondary research
Treating somebody differently based on their age, gender, race, religion or disability = ???
Discrimination
Equality
Diversity
Franchise
Buying and selling online = ???
e-commerce
a-commerce
i-commerce
u-commerce
The price of one currency in terms of another. E.g. £1=$2 ???
Overdraft
Inflation
Disposable income
Exchange rate
Goods or services that a firm produces in its home market, but sells in a foreign market = ???
Import
Export
Cash outflow
Market segmentation
‐ Aims and objectives that relate to the money. E.g. Survival, profit, sales, market share = ???
Insolvency
Non financial aim
Marketing mix
Financial aim
Costs which do not change with output (number of units you make/sell). E.g. Rent or salaries = ???
Variable cost
Fixed cost
Sales revenue
Net cash flow
Where a number of customers are invited to attend a discussion about a product = ???
Focus group
Secondary research
Survey
Questionnaire
The right given by one business to another to sell goods or services using its name = ???
Sole trade
Private limited company
Public limited company
Franchise
Where people want to buy something but nobody is selling it = ???
Void in the market
Space in the market
Gap in the market
Hole in the market
Physical items a business sells. E.g. Bikes, laptops & pens = ???
Good
Service
Asset
Liability
Goods and services that are bought into one country from another = ???
Margin of safety
Import
Market mapping
Export
When a business can no longer afford to pay its debts = ???
Profit
Break even
Cash flow forecast
Insolvency
The cost of borrowing and the reward of saving = ???
Exchange rate
Inflation
Closing balance
Interest rate
‐ Where a business and its owners have separate legal identities, meaning shareholders can only lose the original amount they invested into a business = ???
Unlimited liability
Limited liability
Stock market
Partnership
The amount of products a firm sells over and above the breakeven point = ???
Margin of safety
Margin of danger
Margin of profit
Margin of loss
The elements of marketing that are designed to meet the needs of the customer. The elements are product, price, place and promotion = ???
Market segmentation
Primary research
The marketing mix
Secondary research
‐ An identifiable group of people with the similar characteristics. This could be split by location, demographics, lifestyle or income = ???
Market segmentation
Marketing
Human Resources
Market mapping
The difference between cash inflows and cash outflows = ???
Variable costs
Gross profit
Opening balance
Net cash flow
Aims and objectives that relate to areas other than finance. E.g. Social objectives, personal satisfaction, challenge and control = ???
Financial aim
Non‐financial aim
Profit maximisation
Entrepreneurial quest
A product which is out of date and no longer used = ???
Obsolete
Demand
Risk
Reward
With agreement from your bank, taking more out of your account than you actually have, leaving a negative bank balance = ???
Overdraft
Bank loan
Share capital
Retained profit
‐ Research which is being collected for the first time = ???
Secondary research
Marketing
Globalisation
Primary research
‐ An incorporated business, with Ltd after its name that can sell shares to family and friends. The shareholders have limited liability = ???
Private Limited Company
Public Limited Company
Sole trader
Partnership
Data which is detailed and contains information about people's feelings and opinions = ???
Quantitative data
Quality data
Quintessential data
Qualitative data
The money made from selling a product. = ???
Net cash flow
Variable costs
Share capital
Sales revenue
The collection of data that already exists but is then used for a business's own requirements = ???
Focus group
Secondary research
Survey
Primary research
‐ A business with a single owner, who has unlimited liability = ???
Private Limited Company
Public Limited Company
Franchise
Sole trader
Where a business and its owners are one and the same, meaning the owners are responsible for all business debts = ???
Limited liability
Insolvency
Venture capital
Unlimited liability
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