Year 10 Business Studies

3. firms that process and manufacture goods from natural resources.
5. the resources needed to produce goods and services - land, labour, capital and enterprise.
7. the number of subordinates reporting to each supervisor/manager.
11. an individual or group which has an interest in a business because they are affected by its activities and decisions.
12. the revenue of a business expressed as a percentage of total market revenue.
15. a good or service which people would like, but is not essential for living.
16. payment to workers based on the number of units produced.
17. termination of employment by the employer because the job is no longer needed.
20. the benefit that could have been gained from an alternative use of the same resource.
23. training at the place of work, watching or following an experienced worker.
24. the process of collecting, recording and analysing data about the customers, competitors and market for a product.
25. a newly formed business.
26. increasing or widening tasks to increase variety for workers.

1. a business system where entrepreneurs buy the right to use the name, logo and product of an existing business.
2. people and businesses concentrate on what they are best at.
4. an organisation of workers aimed at improving pay and working conditions and providing other services, such as legal advice, for members.
6. the part of the economy that is controlled by individuals and companies for profit.
8. a training programme to help new recruits become familiar with their workplace, the people they work with and the procedure they need to follow.
9. the factors that must be present in the workplace to prevent job dissatisfaction.
10. the route through which authority is passed down through an organisation.
13. selling a product for more than it cost to produce it.
14. physical goods used by other businesses to help produce other goods and services such as machinery and delivery vehicles.
18. payment to sales staff based on the value of the items they sell.
19. a business formed by two or more people who will usually share responsibility for the day-to-day running of the business.
21. a detailed written document outlining the purpose and aims of a business which is often used to persuade lenders or investors to finance a business proposal.
22. a business that is owned and controlled by just one person who takes all of the risks and receives all of the profits.