1
Q
What are the two sections of profit
A
Gross profit
Net profit
2
Q
How to avoid making a loss
A
Increase selling price but not too high or the business will lose customers
Find a cheaper supplier but don’t sacrifice quality
Conduct market research into what stock is popular so none is left over
Control expenses
Nat 5 Business
flashcards
Decks in class (37)
# Cards
-
10) Recruitment process6
-
2) Sectors Of Industry4
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6) External Factors6
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25) Marketing5
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22) Cash Budgeting5
-
23) Break Even7
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24) Income Statement2
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4) Sectors Of The Economy22
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1) Role Of Business In Society7
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3) Customer Satifaction7
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7) Internal Factors6
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5) Key Business Objectives1
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8) Stakeholders9
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9) Human Resources4
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11) Selection Process8
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12) On The Job Training6
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13) Off The Job Training3
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14) Costs And Benefits Of Training2
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15) Why Should You Retain And Motivate Staff6
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16) Financial Methods Of Motivating Staff6
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17) Non-Financial Methods Of Motivating Staff8
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18) Employment Legislation5
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19) Short Term Finance7
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20) Medium Term Sources Of Finance4
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21) Long Term Sources Of Finance5
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26) Desk Research4
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27) Field Research4
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28) The Marketing Mix Overview9
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29) Product Life-Cycle7
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30) Price7
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31) Place3
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32) Promotion7
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33) Suppliers3
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34) Stock Management9
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35) Methods Of Production15
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36) Quality7
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37) Recycling And Packaging2
