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18 Cards in this Set
- Front
- Back
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share price |
a price of one single share |
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revenue / turnover / sales |
money received from sales of goods / services |
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fixed costs |
coststhat do not change with the level of output |
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variable costs |
costs that change with the level of output |
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profit |
the difference between total revenue and total costs. the money that is left fromsales once costs have been paid |
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sole trader |
is a business owned and run by one person |
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limited liability |
the liability of the owners of a business is limited fully to the paid up value of the share capital. |
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unlimited liability |
not limited to what can or can’t be sold. personal assets are not protected |
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private limited company |
small to medium sizes businesses usually run by family or a small group of close individuals. |
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public limited company |
businesses with limited liability |
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shareholder |
owns a share in the organisation in which they have invested into |
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adding value |
the process of increasing the worth of resources by modifying them |
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mission statement |
a statement of an organisations aims which describes the general purpose of the organisation. |
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corporate aims |
long term statement of what the business intends to achieve |
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objectives |
preciseand detailed goals or targets that must be achieved in order to achieve aims and missions |
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demand |
amount of a particular good or service that consumersor organisations want and are able to afford |
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inferior goods |
demand fall as income rise |
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interest rates |
the cost of borrowing money and the return forlending it |
