Glossary Page 6 0.0 / 5 ? Business StudiesGlossary Page 6ASAQA Created by: ScarlettwyvernCreated on: 30-11-14 10:06 Define: Share Capital Share capital is the finance invested in a business by the shareholders. 1 of 12 Define: Social Enterprise A social enterprise is a business that has objectives other than making profit. 2 of 12 Define: Sole Trader A sole trader is a one-person business with unlimited liability for the debts of that business. 3 of 12 Define: Supplier A supplier is a business that provides goods and services to other firms. 4 of 12 Define: Total Costs Total costs are the total of variable and fixed costs in a business. 5 of 12 Define: Trade Credit Trade credit is the amount owed to suppliers of a business. 6 of 12 Define: Trademark A trademark is a word, symbol or phrase used to identify a particular company's product and differentiate it from other companies' products. 7 of 12 Define: Unlimited Liability Unlimited liability describes the potential risk that sole traders and partnerships face. They are liable for the debts of the business. 8 of 12 Define: USP Unique selling point - a feature of a product or service that makes it stand out compared with the competition. 9 of 12 Define: Variable Costs Variable costs are costs that vary directly in proportion to output. 10 of 12 Define: Venture Capital Venture capital is the investment made by specialist funds to finance the launch, early development or expansion of a private company. 11 of 12 Define: Working Capital Working Capital is the amount of money that a business has available to conduct its day-to-day activities. 12 of 12
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