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JAFFAR PUBLIC SCHOOL (Sr.

Sec) 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 manager 93. Decentralization 94. Management 95. Autocratic manager 96. Democratic manager 97. Human resource management 98. Effective communication 99. Feedback 100. Jargon 101. Piece rate system 102. Time rate system 103. Commission 104. Profit sharing scheme 105. Job rotation 106. Job enlargement 107. Job enrichment 108. Induction training 109. On the job training 110. Off the job training 111. Trade union 112. Industrial action

JAFFAR PUBLIC SCHOOL (Sr. Sec) BUSINESS STUDIES IMPORTANT TERMS


113. Collective bargaining 114. Picketing 115. Work to rule 116. Strike action 117. Worker directors 118. Quality circles 119. Works councils 120. Arbitration 121. Market oriented business 122. Product oriented business 123. Market research 124. Market segment 125. Marketing 126. Marketing objective 127. Research and development 128. Niche market 129. Mass market 130. Market gap 131. Brand name 132. Primary research 133. Secondary research 134. Sampling 135. Bar chart 136. Pie chart 137. Saturated market 138. Maturity stage 139. Extension strategy 140. Product life cycle 141. Elasticity of demand 142. Inelastic demand 143. Elastic demand 144. Market penetration 145. Market development 146. Price skimming 147. Persuasive advertising 148. Personal selling 149. Channel of distribution 150. E-commerce 151. E-marketing 152. Point of sale 153. EPOS 154. Productivity 155. Job production 156. Batch production 157. Flow production 158. Lean production 159. Buffer stock 160. Reorder level 161. Lead time 162. Import 163. Export 164. Multinational business 165. Overheads 166. Marketing mix 167. Target market 168. Employment contract

from the desk of Ms. Nadia Niaz Siddiqui

169. Business cycle 170. Internal communication 171. External communication 172. Organizational structure 173. Market leader 174. Financial benefits 175. Financial rewards 176. Return on capital employed 177. Product portfolio 178. Bonus 179. Global business 180. Automated production 181. Mixed economy 182. Free market system 183. Market system 184. Command economy 185. Loss leader 186. Fringe benefit 187. Marketing, finance, HR manager 188. Operation manager 189. Financial budget 190. Marketing budget 191. Promotional budget 192. Marketing objectives 193. Dividend 194. Cost effectiveness 195. One way communication 196. Two way communication 197. Lateral communication 198. Matrix organizational structure 199. Efficient business 200. Competitive market