Chapter 2 Flashcards
1
Q
Break Even
A
a business breaks even when the total costs of its product equal the revenue from its sales
2
Q
Efficiency
A
the best use of resources
3
Q
Market Share
A
the amount of a market a business has, expressed as a percentage of the total market
4
Q
Maximisation
A
achieving the most of something that is possible
5
Q
Mission Statement
A
a short phrase that sumps up what a company believes in and what it wants to achieve
