Hard stuff 4.5 / 5 based on 2 ratings ? Business StudiesUnit 3GCSEEdexcel Created by: 13cr240Created on: 10-03-18 19:34 What is VAT ? A tax on the value of sales after a certain amount 1 of 19 What is income tax? Tax paid on income earned by workers 2 of 19 What is NIC? Tax on earnings of sole traders and workers 3 of 19 What is Corporation tax? A tax on limited companies profits 4 of 19 What is the sale of goods act? ensures that all products are of a merchantable quality, match their description and are fit for purpose. 5 of 19 What is trades description act? Ensures all businesses do not give false information, withhold information and act aggressively 6 of 19 Negatives of legislation Changing products can be costly and the laws restrict businesses 7 of 19 Positives of legislation less likely to receive fines, improve business image 8 of 19 What is a market map? a diagram used to compare products in a market and identify opportunities. 9 of 19 What is branding? A named product which customers recognize and makes them different from any other product 10 of 19 What is added value ? difference between what a business pays its suppliers and the price it charges 11 of 19 What is market research? The gathering of information about customers, competitors and the market 12 of 19 What is product trial? when consumers buy a product for the first time and assess whether to make a repeat purchase 13 of 19 What is the boston matrix? a product portfolio analysis tool used to plan development of products 14 of 19 What is design mix? variables whcih contribute to a successful design. Function and cost and appearance 15 of 19 What is marketing mix? factors which help a business take into account its customers 4ps 16 of 19 How do you improve cash flow? delay payig invoices, reduce stock orders, leasing, use cheaper suppliers, destocking 17 of 19 What are pressure groups? organisations which try to influence business decisions. 18 of 19 Name some EU regulations health and safety laws, minimum wage, maternity rights 19 of 19
OCR GCSE Sociology Start, Methodology, Education, Family and Crime & Deviance 5.0 / 5 based on 1 rating Teacher recommended
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