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Business Studies Key Terms Flashcards | StudBud
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Business Studies Key Terms
Business Studies Key Terms
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1
What is the money used for day to day running costs called?
short term finance
working capital
long term finance
startup capital
2
Competition Pricing is...
setting a similar price to competitors
setting a low price to beat competitors
BOGOF
setting a high price to attempt to be a premium product
3
What is the graph that is used to predict the amount of profit made per unit sold?
Cash Flow Forecast
Cost-Benefit Analysis
Break Even Analysis
Balance Sheet
4
What is the advantage of a mortgage over a normal bank loan?
the money can be accessed quickly
lower interest rate
all of the above
paid back over a long period of time
5
Which is the correct piece of business legislation to protect employees?
Northerners Discrimination Act 1990
Ginger Discrimination Act 1989
No one can work here who is less than 5 feet tall
Racial Discrimination Act 1976
6
Why should a business promote it's branding
be easily recognisable
establish a reputation of high quality
raise awareness of the company name
all of the above
7
What is a marketing budget?
limit the amount of money available to spend on marketing
Money used to fund day to day activities
another word for working capital
a talking bird
8
Setting a high price for your product will mean...
you will attract richer customers
you will make more profit
you will make more revenue
none of these answers
9
Mr Mclaron sends Mr Depose and email....this is an example of...
internal communication
external communication
vertical communication
horizontal communication
10
Which is the correct consequence of a fall in interest rates
lending money is more profitable
taking out a mortgage is a bad idea
borrowing money is cheaper
less businesses start up
11
What is the disadvantage of taking out an overdraft to buy new equipment
high interest rate
increases tax paid
Low interest rate
lose some control of the business
12
A recession is..
When a country makes less money
The best time to sell your house
When unemployment goes up
a reduction in GDP over a given time period
13
Calculating the price based on the costs then adding a percentage is known as?
Penetration Pricing
Cost Plus Pricing
Creaming
Competitive Pricing
14
Which of these terms means 'the total amount of money made'?
Revenue
Turnover
All of them mean the same thing
Sales
15
What is a cash flow forecast?
financial account of the success of the business
the total amount of money the company makes
a prediction of the profit that will be made
prediction of income and expenditure over the coming months
16
Why should a company increase the range of products it sells?
Spread the risk
Avoid paying more tax
Make more profit
Increase Revenue
