Edexcel GCSE Business key terms

The appearance and sensory appeal of a product, including its shape, colour and texture.

An employer-designed document containing standard questions that applicants complete when applying for a job.

An increase in the value of a currency relative to another currency.

Matching the information and description given about goods before purchase.

Using software or machines to carry out tasks previously performed by people, often repetitive tasks.

Giving employees freedom and authority to make decisions about their work within agreed limits.

The ability of a supplier to provide the goods and quantities a business needs.

Average annual profit from an investment expressed as a percentage of its initial cost.

A sum borrowed from a bank and repaid with interest over an agreed period.

A graph showing how stock levels change over time as stock is used or sold and deliveries arrive.

Something that prevents or disrupts the receipt or understanding of a message.

Making a group of identical or similar products before switching to another batch.

A systematic influence that distorts research findings, such as leading questions or an unrepresentative selection of respondents.

An additional payment made to an employee, often for meeting a target or achieving specified results.

An organised refusal to buy a business's products, intended to put pressure on it to change its actions.

Creating a distinctive name, design, symbol or identity that helps customers recognise a product or business and distinguish it from competitors.

The level of output at which total revenue equals total costs, so the business makes neither a profit nor a loss.

Planned or forecast sales for a particular period, rather than sales already achieved.

Reserve stock held to cover unexpected demand or delivery delays; also called the minimum stock level on a stock-control graph.

A broad, long-term goal that a business wants to achieve, such as survival or growth.

A person or organisation that provides goods or services to meet customer needs.

The moral principles concerning fairness, honesty and right or wrong that guide business decisions.

When a business cannot continue operating and stops trading.

An increase in the size of a business, which may be shown by higher sales, more outlets or more employees.

The place where a business bases its operations, such as a shop, workshop, office or home.

A specific target that helps a business achieve an aim and assess its progress.

The processes a business uses to transform resources into goods or services for customers.