Business unit 1 4.0 / 5 based on 1 rating ? BusinessUnit 1A2/A-levelAQA Created by: paddymad22Created on: 06-10-19 12:31 Adding value Doing something to a product to increase it's worth I.E using ethically manufactured goods 1 of 27 Bank loan Borrowing a fixed amount of money from the bank with fixed interest 2 of 27 Breakeven point when a companies revenue covers the costs 3 of 27 Business Objective A goal that a business wishes to achieve 4 of 27 cash flow The inomings and outgoings of the companies money 5 of 27 Costs Amount of money spent while trading 6 of 27 Demand The amount or price of a product that customers are willing to pay 7 of 27 Demographic A group of people a comapany will target their product too 8 of 27 Entrepreneur A person who takes a calculated risk to set up a business 9 of 27 Fixed costs costs that do not changes with amount of output 10 of 27 Limited liability The company and the owner are two separate legal entities, so they can only loose there business and not their personal possessions 11 of 27 Profit sales-costs 12 of 27 Qualitative Research Detailed research into beliefs , values and opinions 13 of 27 Quantitative Research Numerical research like sales 14 of 27 Revenue The income of sales 15 of 27 Risk The probability that the wanted outcome won't happen 16 of 27 Share Capital Finance invested into the business by shareholders 17 of 27 Social Enterprise A company with ethical objectives at its core like charities and non-profits 18 of 27 Sole Trader A one person business with unlimited liability 19 of 27 Supplier A business that provides goods or services to other firms 20 of 27 Total costs Variable + Fixed costs 21 of 27 Trade Credit when a business can spread the payment over time 22 of 27 Unlimited Liability Owners of a company that are completely liable if a business fails 23 of 27 USP What makes the company stand out from competitors 24 of 27 Variable cost costs that change with output volume 25 of 27 Venture capitalist Someone who invests in new start up business' 26 of 27 Burn Rate amount of money the business uses per month 27 of 27
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