AS - Business Key words revision

luxie04
Flashcards by luxie04, updated more than 1 year ago
luxie04
Created by luxie04 over 7 years ago
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Description

Edexcel applied business keywords

Resource summary

Question Answer
Profit Margin increase sales promotion - reduce prices - use differnet methods of advertising
Objective an aim to achieve with a period(time) - short term
Aims aims is what business is trying to achieve in the end - their final target
Private sector These are the business owned by PRIVATE individuals eg: Sole trader, Private limited companys
Public Sector An orginisation that is owned by government
Public Limited Company a business who's share are listed on stock exchange
Sole trader One ownership
Partnership These are business where two or more people own the business - max 20 people -own the business together
Private Limited company often FAMILY ran business with the protection of limited liability
Franchises small business trading with agreement of large firm
Co-operative collectively owned by workers/ cusotmers
Public Ownership orginsation
Partnership Advantage and Disadvantge advanatge - trust your partner,they can back you financially,divde your work among yourself and rnage fo skills can be shared disadvantage - cause chaos, difficult to divide work equally, dividing money and making dicision can cause disaggrement
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