Business Revision
Business Revision
Paper 2 Revision
Lesson duration is: 41 minItems in this lesson
Business Revision
Paper 2 Revision
One product made constantly.
Job production
Batch Production
Flow production
Making one product at a time
Job production
Batch Production
Flow production
Make one type of
product then switch to
another type
Job production
Batch Production
Flow production
Production Process
One advantage and one disadvantage of job production
One advantage and one disadvantage of batch production
One advantage and one disadvantage of flow production
Advantages/Disadvantages of Production
How can technology help in production?
Organise the procurement process
One advantage of ecommerce to business
One advantage of ecommerce to customers
Select all that apply. Which of these are requirements of Consumer Law?
Product should be:
Fit for Purpose
As described
Satisfactory quality
Not too expensive
What might impact business choice of location?
Drag and Drop
Environmental
Economic
Ethical
Global Warming
Child Labour
Renewable Resources
Pollution
Fairtrade
Consumer Income
Inflation
Unemployment Levels
Cash Flow
Net Cash Flow = Inflows - Outflows
£6900 - ? = -£605
Break Even
Break Even Point = Fixed Costs/(Sales Price-Variable Cost)
BEP = £14,000/£24
Gross Profit
Sales Revenue = Money in from sales
Cost of Sales = Cost of making the sales
Gross Profit = Sales Revenue - Cost of Sales
Sales revenue £50,000
Cost of Sales £25,000
Gross Profit =
Net Profit
Gross Profit - Expenses = Net Profit
Gross Profit £100,000
Expenses £40,000
Net Profit =
Gross Profit Margin & Net Profit Margin
