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Eva McLoughlin
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Decks in this class (49)
Goods/services 1.1
What is the definition of a product,
What is a good,
What is a service
10
cards
Needs/wants
Define a need,
Define a want
2
cards
Factors of Production
What is capital,
What is labour,
What is land
9
cards
Opportunity cost
What is an opportunity cost,
If a company decides to expand it...
2
cards
Business Sector
What are the three business sectors,
What is the primary sector,
What is the secondary sector
4
cards
Entrepreneurs 1
What are the characteristics of a...,
What are the objectives of an ent...
2
cards
Ownership types
What are the 5 types of ownership,
What is a sole trader,
What the pros of a sole trader
18
cards
Business objectives
List 3 business objectives,
What are the purpose of business ...
2
cards
Stake holders and shareholders
Define a stakeholder,
What is the difference between a ...,
Give examples of stakeholders in ...
18
cards
Business planning
Define a business plan,
Give examples of sections that a ...,
How does a business plan help an ...
4
cards
Location
Why is location important within ...,
Why do retail businesses prefer t...,
What is proximity to the market
9
cards
nature of business
Hhhhhh,
How will economic change effect a...,
How will legal change effect a bu...
4
cards
Costs
What is a fixed cost,
What is a variable cost,
Examples of variable cost
4
cards
Revenue and profit
What s the formula for revenue,
What s the formula for profit,
What s the difference between rev...
3
cards
Internal growth and external growth
What is internal growth,
Give examples of internal growth,
What is external growth
3
cards
economies and diseconomies of scale
What are economies of scale,
Give examples of economies of scale,
What are diseconomies of scale
3
cards
customer v consumer
What is a customer,
What is a consumer,
What is the key difference betwee...
3
cards
the entrepreneur
Name 5 reasons why an entrepreneu...,
What is an entrepreneur,
What are the characteristics of a...
4
cards
business functions
Name the 4 business functions,
What is finance as a function,
What is marketing as a function
7
cards
changes in a business environment
What technological changes can a ...,
What economic changes can a busin...,
What legal changes can a business...
4
cards
shares
What are shares,
How do shares work,
How does voting work with shares
4
cards
business locations
What is a business location,
What is the difference between bu...,
What is the difference between lo...
6
cards
Business planning
What are the benefits to producin...,
What should be considered in a bu...,
Purpose of the business plan
10
cards
key terms
What is an entrepreneur,
What is entrepreneurship,
What is a social enterprise
26
cards
objectives
What is the purpose of setting ob...,
What s the difference between obj...,
What are some general objectives ...
4
cards
IMPORTANT EQUATIONS
How is market share found,
How is profit found
2
cards
2.1 Technology
What is ict,
What are websites used for,
What are intranets
4
cards
Ethics and environment 2.2
What is ethics,
What determines a business ethical,
The effect of being ethical
8
cards
the economic climate of business 2.3
What is economic climate,
What is the economy,
What are the 5 main pillars of ec...
10
cards
Globalisation 2.4
What is the definition of globali...,
What are the advantages to global...,
What are the disadvantages to glo...
12
cards
legislation 2.5
What is legislation,
What is the 2010 equality act,
What is the national minimum wage
10
cards
competitive environment 2.6
What are soe qualities that effec...,
What is a monopoly,
What are local monopolies
5
cards
3.1 production process
What is job production,
What is batch production,
What is flow production
13
cards
3.2 - the role of procurement
What is procurement,
What does it mean to manage stocks,
What is purchasing
14
cards
The concept of quality 3.3
What is quality,
What is good quality,
What are the benefits of selling ...
9
cards
3.4 Good customer service
Name the steps of the sales process,
How can customer interest be gained,
What is hard approach
7
cards
Recruitment 3.5
What is the definition of recruit...,
Why is recruitment needed,
What are the 2 types of recruitment
12
cards
4.1 Organised Structures
Why are organisational structures...,
What kind of job roles are there ...,
What is a line manager
20
cards
4.2 Recruitment
What is staff,
Why is it important to recruit th...,
What is diversification
30
cards
4.3 Motivating employees
What is motivation,
Why is motivation important to a ...,
What is the name of the pyramid o...
19
cards
4.4 training
What is the definition of training,
Why is training important,
What are the different types of t...
11
cards
5.1 Identifying + understanding customers
What is an exchange,
What is marketing,
What is the marketing mix 4 ps
5
cards
5.2 Segmentation
What is market growth,
What is market size,
What is sales volume
10
cards
5.3 The purpose + methods of market research
What does the market research giv...,
What is market research,
What is a market segment
17
cards
5.4 Elements of the marketing mix
What are the elements of the mark...,
What is product in the marketing mix,
Hhhh
7
cards
6.1 Sources of finance
What is raising finance,
Why would new businesses need to ...,
Why would an established business...
8
cards
6.2 Cash flow
What is cash flow,
What are the different types of c...,
What are the different types of c...
12
cards
6.3 Financial terms + calculations
Gross profit formula,
Formula for net profit,
Formula for gross profit margin
25
cards
6.4 Financial statements
What is a financial statement,
Statement of financial position,
Why do businesses prepare financi...
53
cards
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