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Related Flashcards
Related Topics
Cards In This Set
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Define tax
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A payment that is made to the government through profits of organisation or salaries of wages of individuals. EG income tax and VAT tax.
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Define target market
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Precise group of buyers with similar characteristicswhich a business aims at. EG coco pops is aimed at children.
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Define PLC
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Public limited company, shares are sold on stock exachange, anyone can buy it.
EG TESCO
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Define LTD
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Private limited company, shares only sold to family and friends
EG NIKE
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Investment
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Individuals or companies invest into things such as land, buildings and shares in order to get a greater return at the end of the year.
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Multinationl company
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A business which operates in atleast 2 countries, usually both selling products and producing them in these countries. EG Unilever(Uk/dutch)
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Subsidiary company
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A company owned by another company ratehr than individual shareholders or owners.
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Entension Strategies
EG new model for cars
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Ways in which a business modifies a product to appeal to more customers and maintain sales over a longer period in the product life cycle.
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Intangible assets
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Physically can't touch or see.
EG brand image, good contacts.
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Current liabilities
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Something that a business owes, a a debt, needs to be payed back within 12 months. EG: creditors
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Business ethics
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The right choices that a business needs to make which are considered as socially acceptable. EG: not using child labour, good working conditions.
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Revenue
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Total money that a business makes by selling their products, usually calculated price x quantity sold. EG kelloggs sales $10,907 in 2006.
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Factors of production
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Assential things that a business needs to run their business. EGland, labour , capital
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Labour
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Workers in manchester
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Breakeven point
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Where revenue equals costs
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