2024 Edexcel As Business Formulas, Theme 1 & Theme 2 Latest Questions And Answers (Verified By Expert)

Bank loan {Ans: A fixed sum of money borrowed from a bank and repaid with regular monthly repayments with added interest}Limited liability {Ans: If there are any financial problems the responsibility for any debts is limited to the original investment}Laissez fairs leadership {Ans: A management style where the manager trusts his employees and leaves them be and let's them make decisions without consultation}Business plan {Ans: A formal document that sets out the details of a business}Demand curve {Ans: A graphical representation of the relationship between price and quantity demanded}Market niche {Ans: A small part of an overall market which has certain special characteristics. Usually a specialist product.}Loan {Ans: The use of someone else's money for a period of time}Market segmentation {Ans: The splitting up of the market into groups of consumers with similar characteristics i.e. age, gender}Debenture {Ans: Dragons Den - external source of finance - Long term loan - Business equivalent to a mortgage}Brand {Ans: The name or symbol that is closely associated with a product or service}Plc {Ans: Public limited company - Organisation with limited liability but whose shares are available to the public}Demand {Ans: The