F291 Continued

The reduction in average costs as a result of savings brought about by an increase in the scale of production

An increase in the long run average costs as a business expands beyond its ability to control and manage itself

A set of values or moral principles determining what is right or wrong and good or bad

The structure of the population in terms of people and their gender,age and ethnic origin

The reduction in average costs as a result of savings brought about by an increase in the scale of production

An increase in long run average costs as a business expands beyond its ability to control and manage itself

A set of values or moral principles determining what is right or wrong and good or bad

The structure of the population and their gender, age and ethnic origin

It may be costly

It would probably give the business a good reputation

may please stakeholders

May cause conflict between some stakeholders

Could attract new customers

May give edge over competition

May be difficult to define exactly what ethical is

May be attractive to potential employees

When there is a few large firms with a large market share e.g. petrol

When there is only one firm in the market or has 25% or more market share e.g. apple, microsoft, united utilities

Where there is a few large firms in the market e.g. petrol - total, shell, esso

When there is only one firm in the market or has 25% or more market share e.g. apple, microsoft, united utilities

When there is a few large firms in the market

Many firms, none of which are dominant and lots of different products cannot compete on price must have good deals/offers/products

Delegates responsibility, asks opinions/involves staff, allows other to make decisions

Parent figure, will ask staff opinions but final decision is made by leader on what they think is best

Make all decisions, like to be in control, believes workers are lazy and will not involve them or ask opinions

A parent figure that will ask staff opinions but they will have the final say

Will delegate responsibility to staff, involving them and asking their opinions. They allow other to make decisions

Let employees get on with their work and only lead/help if asked to

Act like a parent figure asking employees for their opinions but leader will make the final decision

Short/medium time period, easy to change once set, everyday objectives made by junior managers

Long term objectives, difficult to change them once set and are made by senior managers

The thing that is given up when a decision is made/the next best thing

The difference between the cost of materials and the selling price

The difference between the cost of materials and the selling price

The amount of profit made on an products after costs are covered

A good that is sold to the general public

A good that is sold to other businesses

Can only be used once/does not last long

Something that lasts long and can be used many times

Up to 3 years, used for day to day running of the business

Between 3-10 years and is most likely used to replace equipment, to expand or to change a regular overdraft into a formal loan

Longer than 10 years, usually spent on long term growth, spent on large products and are more risky

Between 3-10 years and most likely to be used to replace equipment, to expand, and to change regular overdraft into formal medium term loan