Mixture Of Theme 1 And 2 Flashcards.
Market share formula
Amount of sales/total market sales x 100
Market share definition
Percentage of total volume of product sold in the market
Function
How good a product is at doing its job
Aesthetic
How good a product looks
Price
The amount of money that the product is selling at.
Inflation
The general increase in prices and the
fall of the purchasing power of money
Interest
The money you pay on top for borrowing or the money you gain for saving
Value added tax (VAT)
A tax that is given
to the government at every purchase of a product. (Has some exceptions e.g financial transactions.)
National minimum wage
The minimum amount a business has to pay a worker. This depends on the age. So it’s different for U18 and a 21 year old.
Equality Act 2010
You shall not discriminate against age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex, and sexual orientation in the workplace. This can include things like giving a lower paycheque to them than someone else who does the same thing but doesn’t have that characteristic.
