Miscellaneous Quiz / Business Studies Key Terms (1)

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Can you name the Business Studies Key Terms (1)?

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Non-physical products
Favouring one person over another on the grounds of race, gender, age or disability
Peoples' desire for goods and services
Financial support given to a domestic producer to help compete with overseas firms
The stock of manmade resources, such as machines and tools, used to help make goods and services
Where a business allows another operator to trade under their name
A business owned by between 2 and 20 people
The price of one currency in terms of another
A diagram that shows the different job roles in a business and how they relate to each other
Using changes in taxation and government expenditure to manage the economy
Measures used by the government to attract businesses to 'deprived' areas
Areas of land, usually on the outskirts of towns and cities, where businesses develop for the first time
Production involving the conversion of raw materials into finished and semi-finished goods
The growing integration of the world's economies
A brief summary of a firm's aims and objectives
The basic needs of humans for their survival
A document that shows clearly the tasks, duties and responsibilities expected of a worker for a particular job
When the amount of resources available is limited
Things that get in the way of communication
The goals or targets set by a business
Making as much profit as possible in a given time period
The desire to achieve a goal
The production of services in the economy
The number of people a person is directly responsible for in a business
A payment system designed for non-manual workers where pay increases are given if performance targets are met
Ideas about what is morally right or wrong
A binding legal document which states the formal rights of partners
According to Herzberg, things at work that result in dissatisfaction
People in the hierarchy who work under the control of a senior worker
A written agreement between an employer and an employee in which each has certain obligations
Business organisations owned by individuals or groups of individuals
Where two or more companies share the cost, responsibility and profits from a business venture
A payment system where workers receive an amount of money for each unit produced
The people used in production
Business organisations owned by central or local government
The resources used to produce goods and services, like land, labour, capital and enterprise
A payment system based on the amount of time employees spend at work
Authority to pass down from superior to subordinate
The right to command and make decisions
Goods and services bought from overseas
The use of recognised channels when communicating
Using changes in interest rates and the money supply to manage the economy
A personal profile of the type of person needed to do a particular job
Areas of land which were once used for urban development
The idea that people should satisfy their basic needs and enjoy improved living standards without compromising the quality of life of future generations
Communication between the business and those outside such as customers, investors or the authorities
A physical limit on the quantity of imports allowed into a country
The process of a comapny 'going public'
Prouduction methods that make more use of machinery relative to labour
Where a multinational returns the profits from an overseas venture to the country where it is based
A business owned by a single person
A partnership where all partners have limited liability
Where the business has a separate legal identity from that of its owners
Groups of people without political power who seek to influence decision makes in politics, society and businesses
The different methods by which information can be sent
A process which involves increasing the knowledge and skills of a worker to enable them to do their jobs more effectively
Training that takes place away from the work area
Training that takes place while doing the job
An increase in income, output and expenditure over a period of time
Someone who organises other factors of production and risks their own money in a business venture
Communication between people inside the business
A market for shares in PLCs
HintAnswer
Production involving the extraction of raw materials from the earth
A payment in addition to the basic wage for reaching targets or in recognition for service
Measures designed to restrict trade
The use of non-approved channels when communicating
The transformation of resources into goods and services
The internal structure of a business as shown by an organisation chart
Businesses where there is no legal difference between the owner and the business
Where workers are given a share of the profits, usually as part of their pay
The order or levels of responsibility in an organisation from lowest to highest
A court which deals with cases involving disputes between employers and employees
Training given to new employees when they first start a job
Goods and services produced by one business for another
A document used by a job seeker which lists personal details, qualifications, work experience, referees and other details
Trade in services
Goods and services sold to ordinary people rather than businesses
A rise in the general price level
A rate of pay above the normal rate to compensate employees for working extra hours
Appointing workers from inside the business
The need of humans to communicate, develop friendships and belong
The price of borrowed money
An organisation which provides goods and services
A section in a business where all employees have similar skills and specialise in particular activities
Where a business owner is only liable for the original amount of money invested in the business
An employee's take home pay, after deductions such as income tax and pension contributions
Where a worker is dismissed illegally by a business
The collection of information and reporting on the impact that a business has on society and the environment
A business organisation which has a separate legal identity from that of its owners
The route through which orders are passed down in the hierarchy
Trade between nations that is completely without government restrictions
Areas that are designated by the UK or EU as having economic problems and are eligible for support
Where the owner of a business is personally liable for all business debts
An individual or group with an interest in the operation of a business
A partnership where some partners contribute capital and enjoy a share of the profit, but do not take part in the running of the business
The pleasure, enjoyment or sense of achievement that employees get from their work
Routes along which information might travel in a business
When people are out of work and cannot find a job
Trade in physical goods
Making workers' jobs more challenging by giving them opportunities to be creative and take on responsibility
Specialisation in specific tasks or skills by an individual
Obstacles that make it difficult for new firms to enter a market
The sending and receiving of messages
A payment based on the value of sales, usually a percentage of sales made
Allowing workers to change jobs from time to time
The production of a limited range of goods
A tax on imports to make them more expensive
Basic requirements for human survival
Production methods that make more use of labour relative to machinery
An attempt by firms to prevent or restrict competition
The decline in manufacuring
An approach used by a government to protect domestic producers
Perks over and above the normal wage or salary
The depreciation or fall in the value of a currency
Physical products
The order of people's needs starting with basic human needs
According to Herzberg, things at work that result in satisfaction
A large business with markets and production facilities in several different countries
Pay, usually to non-manual workers, expressed as a yearly figure but paid monthly
Appointing workers from outside the business
Where one business dominates the whole market
The difference between visible exports and visible imports
Pay before deductions
Goods and services sold overseas

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