Useful Words

2. A plan which plans out how you want the business to run which includes the product or service, prices, how the product/service will be marketed and the market research to show there is a need for what is being sold.
7. A person who takes risk of starting and running a business enterprise
8. The additon of fixed and variable costs
10. Another word for money
13. The money from sales
15. Costs that change as output changes fpr example, wages
16. Where a business sells their goods or services
17. The sales minus the cost of sales

1. The gross profit divided by by sales multiplied by 100
3. The costs of running a business
4. The net profit divided by the sales multiplied by 100
5. The gross profit minus the expenses of operating the business
6. Costs that stay the same as output changes for example, rent
9. a term used to explain how a business works
11. This could be, meking profit or providing a good service to the customers
12. things a business needs to make it work, including money and staff
14. This occurs in a business when the costs are greater than revenue.