Edexcel AS/A Level Business Exam Bundle

Capital - The money provided by the owners in a business Capital expenditure - Spending on business resources that can be used repeatedly over a period of time Internal finance - Money generated by the business or its current owners Retained profit - Profit after tax that is 'p...

2.4.3 - 2.4.3 Stock control - The control of the flow of stock in a business, it concerns the ordering and management of: Raw materials/components Work-in-progress Finished goods JIT - system of delivering parts to the assembly line in a continuous flow, rather than stockpiling l...

Factors which influence Stock Levels - type of stock, demand, stockpile goods, the costs of stock holding, external factors, amount of working capital available Buffer Stocks - stocks held as a precaution to cope with unforeseen demand (just-in-case) Advantages of holding Buffer Stocks -...

Internal finance - Money generated by the business or its current owners Source of Internal Finance 1: Owner's Capital - • the stake the owner has in the business Provides capital for own resources and is most commonly is personal savings. ○ Some have done this to save up the finance...

Appreciation of a currency - A rise in the value of a currency Base rate - The rate of interest around which a bank structures other interest rates. Boom - The peak of the economic cycle where GDP is growing at its fastest Consumer price index (CPI) - A common measure of price c...

mass market - a market that targets a large segment - products are standardised niche market - a market that targets a small segment - customers have specific needs that aren't catered by the mass market brand name - a name, sign, symbol or other feature that allows consumers to iden...

mass market - a market that targets a large segment - products are standardised niche market - a market that targets a small segment - customers have specific needs that aren't catered by the mass market brand name - a name, sign, symbol or other feature that allows consumers to iden...

Sales forecast - Projection of future sales revenue, often based on previous sales data Consumer trends - The habits or behaviours of consumers that determine the goods and services they buy Consumer income - The amount of income remaining after taxes and expenses have been deducted f...

Economies of scale - The reductions in average costs enjoyed by a business as output increases Diseconomies of scale - Rising average costs as a business expands beyond its minimum efficient scale. Overtrading - occurs when a business attempts to expand too quickly without the suffici...

Batch production - where you complete one operation at a time on all units before moving to the next Capital intensive - Production methods that use machinery more relative to labour Capital productivity - The amount of output each unit of capital (one machine) produces Cell produc...

Internal finance - Money generated by the business or its current owners External finance - Money raised from sources outside the business Owner's Capital - The money provided by the owners in a business Sale of assets - when a business sells off its unwanted or unused assets t...

Economic growth - An increase in a country's productive capacity Emerging economies - The economies of developing countries where there is rapid growth, but also significant risk Human Development Index (HDI) - A collection of statistics that are combined into an index, ranking count...

Marketing - A management process involved in identifying, anticipating and satisfying consumer requirements profitably Marketing mix - This is more commonly referred to as the '4 P's'. These are four elements of a business' marketing that are designed to meet the needs of the customers....

price elasticity of demand - a measure of the sensitivity of demand to changes in price Competitive Pricing - When the product is priced in line with or just below competitors' prices to try to capture more of the market. Cost Plus Pricing - adding a percentage (the mark-up) to the c...