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Define tax |
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a payment that is made to the government through profits of organisation or salaries of wages of individuals. EG income tax and VAT tax. |
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Define target market |
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Precise group of buyers with similar characteristicswhich a business aims at. EG coco pops is aimed at children. |
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Define PLC |
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Public limited company, shares are sold on stock exachange, anyone can buy it.
EG TESCO |
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Define LTD |
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Private limited company, shares only sold to family and friends
EG NIKE |
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Investment |
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Individuals or companies invest into things such as land, buildings and shares in order to get a greater return at the end of the year. |
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Multinationl company |
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a business which operates in atleast 2 countries, usually both selling products and producing them in these countries. EG Unilever(Uk/dutch) |
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Subsidiary company |
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a company owned by another company ratehr than individual shareholders or owners. |
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Entension Strategies
EG new model for cars |
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ways in which a business modifies a product to appeal to more customers and maintain sales over a longer period in the product life cycle. |
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Intangible assets |
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Physically can't touch or see.
EG brand image, good contacts. |
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Current liabilities |
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Something that a business owes, a a debt, needs to be payed back within 12 months. EG: creditors |
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Business ethics |
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the right choices that a business needs to make which are considered as socially acceptable. EG: not using child labour, good working conditions. |
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Revenue |
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total money that a business makes by selling their products, usually calculated price x quantity sold. EG kelloggs sales $10,907 in 2006. |
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Factors of production |
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assential things that a business needs to run their business. EGland, labour , capital |
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Labour |
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workers in manchester |
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Breakeven point |
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where revenue equals costs |
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