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Edexcel AS/A Level Business Exam Bundle
Edexcel AS/A Level Business Exam Bundle
[Show more]Edexcel AS/A Level Business Exam Bundle
[Show more]Statement of comprehensive income (profit & loss account) - A financial document showing a company's income and expenditure over a particular time period, usually one year 
 
Revenue or turnover - The total income of a business resulting from sales of goods or services 
 
Gross profit - Th...
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Add to cartStatement of comprehensive income (profit & loss account) - A financial document showing a company's income and expenditure over a particular time period, usually one year 
 
Revenue or turnover - The total income of a business resulting from sales of goods or services 
 
Gross profit - Th...
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...
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Add to cartCapital - 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...
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Add to cart2.4.3 - 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 -...
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Add to cartFactors 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...
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Add to cartInternal 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...
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Add to cartAppreciation 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...
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Add to cartmass 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...
Preview 3 out of 23 pages
Add to cartmass 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...
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Add to cartSales 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...
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Add to cartEconomies 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...
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Add to cartBatch 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...
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Add to cartInternal 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...
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Add to cartEconomic 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....
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Add to cartMarketing - 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...
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Add to cartprice 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...
Corporate objectives - The objectives of a medium to large-sized business as a whole 
 
Departmental and functional objectives - The objectives of a department within a business 
 
Mission statement - A brief statement, written by the business, describing its purpose and objectives, designe...
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Add to cartCorporate objectives - The objectives of a medium to large-sized business as a whole 
 
Departmental and functional objectives - The objectives of a department within a business 
 
Mission statement - A brief statement, written by the business, describing its purpose and objectives, designe...
BRICS - Brazil, Russia, India, China & South Africa 
 
Indicators of growth - Statistics that show the extent to which a country is increasing in size 
 
Equation of GDP - National income/population 
 
Business specialisation - When businesses concentrate on producing specific goods 
 
F...
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Add to cartBRICS - Brazil, Russia, India, China & South Africa 
 
Indicators of growth - Statistics that show the extent to which a country is increasing in size 
 
Equation of GDP - National income/population 
 
Business specialisation - When businesses concentrate on producing specific goods 
 
F...
Added Value - Added value is the value of the finished output over and above the cost of achieving it i.e. the cost of inputs and transformations. 
 
Value can be added by manufacturing, branding, technology and a unique selling point. 
 
Calculated as: 
Selling price - cost of inputs - cost of t...
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Add to cartAdded Value - Added value is the value of the finished output over and above the cost of achieving it i.e. the cost of inputs and transformations. 
 
Value can be added by manufacturing, branding, technology and a unique selling point. 
 
Calculated as: 
Selling price - cost of inputs - cost of t...
Brand Name - A name, term, sign, symbol, design or any other feature that allows consumers to identify the goods and services of a business and to differentiate them from those of competitors 
 
E-commerce - Conducting business transactions online 
 
Online retailing - The retailing of good...
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Add to cartBrand Name - A name, term, sign, symbol, design or any other feature that allows consumers to identify the goods and services of a business and to differentiate them from those of competitors 
 
E-commerce - Conducting business transactions online 
 
Online retailing - The retailing of good...
Financial aims and objectives 
Are linked to money. Their goal is to either make sure the business can afford to keep running or help it to make a profit. 
 
 
Survival 
Is a very common objective for a small business. Business survival refers to keeping the business operating for a certain amount o...
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Add to cartFinancial aims and objectives 
Are linked to money. Their goal is to either make sure the business can afford to keep running or help it to make a profit. 
 
 
Survival 
Is a very common objective for a small business. Business survival refers to keeping the business operating for a certain amount o...
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