GCSE Business Revision

5. The sacrifice we make whenever we decide to do anything; the loss of other alternatives when one alternative is chosen
6. The line of authority along which communication passes.
9. When a business uses another business to produce for it; a method of internal growth
11. A long-term loan from a bank or building society that is used to buy land and buildings
12. Methods of production which can be continued in the long term without damage to the environment.
13. The passing down of authority to more junior employees
14. A benefit of an effective recruitment and selection process; a benefit of motivating employees.
15. A pricing method; products are priced by covering the cost of it to the business and then adding a percentage on top.

1. A product with a high market share in a low-growth market; part of the Boston Matrix
2. A factor of production
3. A document that sets out the qualifications and skills required by an employee to do a particular job
4. This type of business can raise finance by selling shares on the Stock Exchange
7. Benefits can include an increase in output, reduction in unit costs and specialisation of workers.
8. This will increase if a business has well trained and motivated employees.
10. A method of external growth