Created by Simply Spring
almost 7 years ago
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Opportunity cost
What are our Means
Define Scarcity
Advantages of Money (5)
The diversity of business (6)
Sole trader advantages and disadvantages
Partnership advantages and disadvantages
Company advantages and disadvantages
Business objectives
Income: Wages
Income: Salary
How Fees are earnt
How Commission is earnt
What is Rent
What is a Dividend
What is a Royalty
What is a Profit
What is Interest
Admission fees
Hire fees
What is the CGA
What is the FTA
If something goes wrong, under CGA, you can ask for
Goods the CGA doesn't cover:
Who is the person who lodged the claim at a Disputes Tribunal
Who is the party being challenged at a Disputes Tribunal
Rights of a seller
Obligations of a seller
What is a Law
Define Consumer
Define a Contract
How a reasonable price would be determined for a service
A valid contract must
If all 6 elements aren't present in a contract...
A budget must...
If a monthly budget is in an unfavourable situation, you could
Define Break-even
A Statement of Affairs must include...
What is cash buying
Examples of cash buying
What is credit buying
Examples of credit buying
Advantages of credit buying (3)
Consequences of borrowing with credit (bad 4)
Overdraft
Hire purchase
Mortgage
Store cards
Define Saving using economic terms
Opportunity cost of saving
Factors that influence saving
Reasons people save (6)
Disputes Tribunal
Cases that can't be taken to the Tribunal (8)
Maximum amount the Tribunal can order someone to pay
Reasons for preparing a budget (4)
All consumer products must (4)
All consumer services must (4)
Examples of prohibited trading conduct (5)
Define Caveat emptor
Who is the Referee