GCSE BIZ KEY TERMS QUIZ 1

An arrangement that allows a business to spend more money than it has in its bank account.

Making a one off, specialised products for each customer

The attempts to make your product stand out from rivals through design or different features.

The four major variables for which decisions must be made when marketing a product.

Expansion from within the business (e.g. by opening more branches)

A prediction of a business’s cash inflows andoutflows showing the opening and closing balance

An individual or group with an interest in a business

The collective term given to all the products made of sold by a business

Rewards that do not involve the direct payment of money

What is left after costs have been deducted from revenue

The quantity that consumers are willing to buy at a certain price. 

Discussions with a group of consumers which probes their feelings towards a product or service.

Being responsible for all the businesses debts is known as having what…

The process of forming a limited liability company such asan Ltd or plc

A fixed amount of money paid per month or year no matter what hours they work.

The percentage a sales person gets from the amount they sell.

The reasons why average costs of an item fall as a firm expands

Allowing debts for goods and services to be paid one or twomonths after delivery is known as…

Research that uses information already gathered for another purpose

The difference between cash in and cash out of a businessover a period of time

Expansion by merging with or taking over another business

he method used to transfer goods or services from the producer to the final consumer.

The firm that buys the franchise rights from the existing business

Joining two businesses in the same industry and stage of production is known as….

The existing firm that sells the franchise rights to another business