Cambridge Igcse Business Studies Key Terms |269 Questions| With Correct Answers.

Commission {Ans: Commission is payment relating to the number of sales made .}Liquidity {Ans: Liquidity is the ability of a business to pay back its short-term debts.}Marketing mix {Ans: Marketing mix is a term which is used to describe all the activities which go into marketing a product or service. These activities are often summarized as the four P's - product, price, place, and promotion.}Sample {Ans: Sample is the group of people who are selected to respond to a market research exercise, such as a questionnaire.}Social responsibility {Ans: Social responsibility is when a business decision benefits stakeholders other than shareholders.}Working capital {Ans: Working capital is the finance needed by a business to pay its day-to-day costs.}