Business Paper 2 Study Guide Rated A+

Gross profit {Ans: Sales revenue - cost of sales}Zero based budget {Ans: A cash flow plan that assigns an expense to every dollar of your income, wherein the total income minus the total expenses equals zero}Labour turnover {Ans: The percentage of workers leaving a business in a time period}External economies of scale {Ans: The cost reductions available to all businesses as the industry grows}Outflows {Ans: Money flowing out of a business}Diseconomies of scale {Ans: increases in cost per unit when output increases}