BUSINESS STUDIES IMPORTANT TERMS
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. 44. 45. 46. 47. 48. 49. 50. 51. 52. 53. 54. 55. 56. Opportunity cost Specialization Objectives Value added Profit Business stakeholders Primary business Secondary business Tertiary business Private business/sector Public business/sector Merit good Public good Privatization Capital intensive business Labour intensive business Conglomeration Integration Merger Takeover Wholesaler Retailer Economies of scale Diseconomies of scale Diversification Market size, market growth Market share Sole trader Partnership Limited company Private /public limited company Unlimited / limited liability Unincorporated/ incorporated Deed of partnership Shareholders Stock market Prospectus AGM Joint venture Franchise Nationalized business Monopoly Socially responsible business Inflation Economic boom Economic recession Unemployment Balance of payment deficit/surplus Monetary policy Fiscal policy Quota Interest rate Dismissal Redundancy Cost benefit analysis Pressure groups

from the desk of Ms. Nadia Niaz Siddiqui

57. Fixed/variable cost 58. Break even output 59. Margin of safety 60. Budget 61. Sales forecast 62. Working capital 63. Cash flow forecast 64. Balance sheet 65. Profit and loss statement 66. Variance 67. Debtors 68. Creditors 69. Fixed asset 70. Current asset 71. Long term/current liabilities 72. Shareholders funds 73. Profit margin 74. Low/high profit margin 75. Internal finance 76. External finance 77. Revenue expenditure 78. Capital expenditure 79. Overdraft 80. Lease 81. Share capital 82. Gearing 83. Hierarchy 84. Chain of command 85. Span of control 86. Job description 87. Person specification 88. Delegation 89. Empowerment 90. Motivated employees 91. Line manager 92. Staff