Business and Economics Key Terms Business and Economics Key Terms
Business and Economics Key Terms Business and Economics Key Terms
Business and Economics Key Terms Business and Economics Key Terms
Business and
and Economics
Economics
Key
Key Terms
Terms
Write as much about each key term as you
think is relevant.
•definition
•when it might be used
•whether it’s been in the news recently
•a diagram
.
Entrepreneur
Merger
Market
Market Share
Economies of scale
Diseconomies of scale
Private sector
Public sector
Poverty
Competitive advantage
Stakeholders
Division of labour
Benefit system
Innovation and R&D
Competition Commission
The EU
The Eurozone
Distribution of Income
Monopoly
Cash flow
Profit and loss account
Balance sheet
Profit formula
VC, TC, R, FC
Gross profit margin
Return on Capital
Employed
Break even
Communication methods
Marketing Mix
Product lifecycle
Recession
Boom
Gross Domestic Product
Inflation
Unemployment
Fiscal policy
Monetary policy
Share
Limited liability
Dividend
Private limited company
Public limited company
Sole trader and
partnerships
Ethical business
Break even
Variable costs
Fixed costs
Revenue/sales/turnover
Mark up (%)
Added value
Branding
Demand
Supply
Equilibrium price
Market failure
Sustainable development
Renewable energy
Import and exports
Tariffs and import
controls
Exchange rate
Productivity
Motivation
Changes in working
patterns
Less Developed Countries
Benefits trap
Government regulation
Target market
Economic Growth
and GDP
Working Capital