Igcse Business Studies Definitions Pdf, The definitions provide concise explanations of important business concepts.
- Igcse Business Studies Definitions Pdf, The definitions provide concise explanations of important business concepts. . 1 International standards terminology The list below identifies the international standards terminology and current Cambridge/UK usage. High School level. Cambridge anticipates including well-known standards, which are relevant to the level of study, in question papers, mark schemes and associated documents. Key terms defined include added value, appreciation, autocratic leadership style, average cost, balance sheet, batch production, brand, break even, and business cycle among many others. Appendix 6. 2 Glossary of terms 6. 5. 1 - Business activity Key definitions: Needs - Goods or services necessary for life Wants - Goods or services that are not necessary for life but are still sought after Scarcity - The basic economic problem, unlimited wants but limited resources Opportunity cost - The next best alternative forgone Specialisation - When a business focuses on IGCSE Business Studies Terms & Definitions Chapter 1: Business Activities Chapter 2: Classification of Businesses Chapter 3: Enterprise, Business Growth and Size 4: Types of Business Organisation Summarized notes for CAIE IGCSE Business Studies (0450) covering key definitions and concepts. kgicgj, nqs, vsvr, bztln, eo, tp6jz, azg7n, 7odadtf, ykjd0, tb,