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Key Terms – Business Studies A Level

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❶Strengths and weaknesses are internal factors which the business has direct control over, while opportunities and threats arise from the external environment and are, therefore, more unpredictable and potentially dangerous. This is a group of people who are chosen to take part in a market research campaign.

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Key terms for GCSE Business Studies
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Where workers are given a share of the profits, usually as part of their pay. Production methods that make more use of labour relative to machinery. The idea that people should satisfy their basic needs and enjoy improved living standards without compromising the quality of life of future generations.

Favouring one person over another on the grounds of race, gender, age or disability. Where one business dominates the whole market. The stock of manmade resources, such as machines and tools, used to help make goods and services. Where a multinational returns the profits from an overseas venture to the country where it is based. Areas of land, usually on the outskirts of towns and cities, where businesses develop for the first time.

Measures designed to restrict trade. The use of recognised channels when communicating. A payment system designed for non-manual workers where pay increases are given if performance targets are met.

Training given to new employees when they first start a job. A rise in the general price level. An individual or group with an interest in the operation of a business. The depreciation or fall in the value of a currency. Communication between people inside the business. Where a business owner is only liable for the original amount of money invested in the business. Perks over and above the normal wage or salary.

Using changes in taxation and government expenditure to manage the economy. A rate of pay above the normal rate to compensate employees for working extra hours.

The resources used to produce goods and services, like land, labour, capital and enterprise. A payment system based on the amount of time employees spend at work.

A partnership where some partners contribute capital and enjoy a share of the profit, but do not take part in the running of the business. The route through which orders are passed down in the hierarchy. Appointing workers from outside the business. The use of non-approved channels when communicating. A business organisation which has a separate legal identity from that of its owners.

A written agreement between an employer and an employee in which each has certain obligations. Goods and services produced by one business for another. The order or levels of responsibility in an organisation from lowest to highest. The process of a comapny 'going public'. The different methods by which information can be sent. Allowing workers to change jobs from time to time.

Where the business has a separate legal identity from that of its owners. A court which deals with cases involving disputes between employers and employees. Ideas about what is morally right or wrong. A diagram that shows the different job roles in a business and how they relate to each other.

A business owned by a single person. Making as much profit as possible in a given time period. The transformation of resources into goods and services. Communication between the business and those outside such as customers, investors or the authorities. The Boston Matrix- A way to analyse a product portfolio. Product life cycle- The life cycle a product goes through in terms of levels of demand.

Cost plus pricing- Adding a percentage of profit to a products selling price. Penetration pricing- A low price on a product to gain market share. Loss leaders- A low price…. Anonymous Unknown Report Thu 5th November, Sign up to Comment. AQA Business studies Powerpoint 1. Revision Guide for Webdespix Ltd. Revision notes, Production, finance and external influence on business with case study.

Putting a Business Idea into Practice. How to answer 9 mark questions. A document setting out the strengths, aims and strategies of a business. The process of gathering, analysing and producing data relevant to the marketing process. The process of gathering data for the first time with the use of surveys, footfall count, etc. The process of gathering data that already exists from sources such as the internet, newspapers, etc.

A group of people or items selected to represent the population as a whole. A small number of people gathered to talk about a particular issue in open discussion. Exists where buyers and sellers combine to exchange goods and services. Measures the increase in the sales of a market over a given time. Measures the sales of one product or business as a percentage of the total market sales. The first stage of production and includes extracting or growing resources, for example: Any aspect of a product that differentiates it from its competitors.

Occurs when an individual or groups of individuals are personally responsible for all the actions of their business. With sole traders, there is no distinction in law between the individuals and the business; this means they can lose personal assets if the business has financial problems. A business organisation which has its own legal identity and which has limited liability.


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Study Business Studies Key Terms Flashcards at ProProfs - Key terms for AQA Business Studies AS Level.

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Listed below are 50 key terms that AQA BUSS1 students need to ensure they understand and can define / explain in the exam. A process through which a business increases the worth of the resources included in production so that customers perceive the product to be worth more than the cost of the.

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Key Terms. Business- Something that provides a good or a service. Gap in the market- Where there is a demand for a good or service that is . Start studying Cambridge IGCSE Business Studies Key Terms. Learn vocabulary, terms, and more with flashcards, games, and other study tools.

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AQA GCSE Business Studies Key Terms I have taken these key terms from Surridge and Gillespie for a display. They are just Unit 1 and to be honest I /5(9). A Level Business Studies Edexcel Key Terms Hi I've created this for all As students doing the Edexcel exam board for business studies:) Welcome to Memrise!