Show:
Introduction
Unit 7
Unit 9
Extra
100
A person who starts his own business
entrepreneur
100
more than one business fighting for the same customers
competition
100
money coming into a business
income
100
What are the benefits of competition?
choice, quality, reduced price
200
to take a chance
risk
200
the percentage of a market owned by a business
market share
200
money going out of a business (page 107)
expense, outflow
200
From your project, who are your competitors
300
give two examples - where can money be sourced from?
microfinance, gov., friends, family, shares, banks
300
when supply equals demand (page 28)
perfect competition
300
money coming in is more than money going out (page 90, 91)
profit
300
A way to keep track of the money being made and spent in a business
budget
400
give two examples of advertising methods
billboards, personal selling, public relations, television ads, sales promotion
400
when there are only a few businesses supplying the market
oligopoly
400
money going out is more than money coming in (90-93)
loss
400
give two examples of fixed costs (pages 98, 99)
rent, insurance, loan repayments, wages, IT, etc.
500
How have you chosen to finance your business? Why
gov, friends, family, shares, banks
500
when there is only one business supplying the market (page 25)
monopoly
500
give two examples of expenses (pages 91, 92, 93)
building rent, insurance, materials, equipment, mages, utility bills
500
give two examples of variable costs (pages 98, 99)
materials, bonuses, credit card fees, etc.