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Accounting, Business Studies and Economics Dictionary

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❶These consist of retained profit from previous trading periods and any increase in the value of fixed assets such as land and buildings, which form part of the long-term capital of the business.

Key terms for GCSE Business Studies

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Business Studies Unit 1 AQA Key Words
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Public sector businesses- Businesses owned by the government. Franchising- Big named businesses allowing entrepeneurs to sell products under their name.

Decentralised structure- A business that spreads decision making. Organisational charts- Charts showing the structure of a business. Tall structure- Businesses that have lots of layers within the business structure. Flat structure- Businesses that have few layers within the business structure.

Market research- Researching the market. Quantitative data- Data that is in numerical form. Qualitative data- Data that is opinions and views. 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. The skills needed to make a new idea work. The benefit from the next best alternative that has been given up. A problem-solving and idea-generating technique in which individuals are asked to come up with as many ideas as possible.

Everyone is encouraged to talk and after a given period of time ideas are analysed in more detail. Legal protection for artistic and creative works. Occurs when a franchisor sells the rights to use or sell their products or services to a franchisee. 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. An investor in and one of the owners of a company. Occurs when an individual becomes insolvent.

Can you name the Business Studies Key Terms (1)?

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

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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 . Business Studies Unit 1 AQA Key Words. 0 Sign In Sign Up for Free Sign Up AS Business Studies - Key Terms Start flashcards. Front of flashcard Back of flashcard Adding Value. Upload Image The process of a business increasing the worth of a product.

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Start studying AS Business Studies Key Terms. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Start studying AS Business Studies Key Terms (FULL). Learn vocabulary, terms, and more with flashcards, games, and other study tools.