Gcse Business Aqa Gcse Business Paper 2 Study Guide Graded A+

E-commerce {Ans: Business transactions carried out electronically on the internet.}Gap in the market {Ans: An opportunity for a new business (or expansion) which may meet a need that is not being met.}Entrepreneur {Ans: A person who has the vision to use initiative to make business ideas happen, managing the resources and risks.}Enterprise {Ans: The ability to identify business ideas and opportunities to bring them to fruition and to take risks where appropriate.}Profit {Ans: The difference between the money received from the sale of a good/service and the amount it cost; the amount that remains after all the costs have been paid.}Franchising {Ans: The sale of the rights to use/sell a product by a franchisor to a franchisee.}External growth {Ans: The growth of a business by joining with another by merger or takeover.}Revenue {Ans: The income generated from the sale of goods/services.}Goods {Ans: Items that are produced from raw materials for sale to businesses or consumers.}Objective {Ans: A specific statement that defines a precise goal that can be measured and delivered within a given time.}Stakeholders {Ans: Those with an interest in the way that a business operates.}Location {Ans: The