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Additional terms explain employment arrangements, cooperative societies, types of costs, marginal cost, market systems, economic growth, and investment-related concepts like inflation and debentures.",{"@graph":14,"@context":72},[15,34,55],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/document/","Document",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/document/exam/","Exam",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/document/glossary-of-terms-business-organisation-and-environment-advanced-level/412533/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/glossary-of-terms-business-organisation-and-environment-advanced-level/412533.png","ImageObject",300,407,{"name":42,"@type":43},"aboduw","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-11-01","2026-09-28",true,{"@type":52,"interactionType":53,"userInteractionCount":33},"InteractionCounter",{"@type":54},"ViewAction",{"@type":56,"mainEntity":57},"FAQPage",[58,64,68],{"name":59,"@type":60,"acceptedAnswer":61},"What is a break-even point in business terms?","Question",{"text":62,"@type":63},"It is the point where a company’s revenue equals its costs; beyond this level the company begins to make profit, based on variable costs deducted from additional revenue.","Answer",{"name":65,"@type":60,"acceptedAnswer":66},"How are horizontal and vertical communications different?",{"text":67,"@type":63},"Horizontal communications are information exchanged at the same management level (for example, between departments). 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Fixed costs are absorbed and profit is made by deducting variable costs from additional revenue. |\n| budgeting | Financial planning, involving forecasts of sales, costs, profits and cash flows. |\n| business confidence | Reflection of optimism or pessimism about ongoing and future business prospects. |\n| business (or enterprise) culture | The economic, political and social climate which encourages business (especially small and medium-sized businesses) and the profit motive. |\n| casual employee | An employee who is usually paid by the hour or day, and is taken on only when needed. |\n| centralisation | All authority to take decisions is held by the senior manager(s) . |\n| chain of command | The levels of management and the way authority is organised. |\n| codes of conduct | Company regulations governing employee behaviour, dress and personal adornment. |\n| competitiveness | Reflection of, for example, organisation skills, market strategy, market penetration, pricing and cost control. |\n| communications | The exchange (i.e. sending and receiving) of information. |\n| horizontal communications | Information exchanged at the same level, e.g. between departments. |\n| vertical communications | Information sent up and down the chain of command. |\n| consultation | The process of seeking the views of others before making a decision. |\n| consumer credit | The means by which people can defer full payment for goods by entering a credit contract, e.g. hire purchase – also known as‘buy now, pay later’. |\n| consumer protection | Legislation and regulation designed to protect consumers from fraudulent sales methods, and from goods which are not fit for the purpose intended or are not of merchantable quality. |\n| cooperative society | A mutual organisation financed, owned and run by its members. |\n| costs: direct or variable | Costs which vary with output, e.g. piece rate costs not directly attributable to a product. |\n| indirect or fixed | Costs which have to be paid, whether or not there is any production. |\n| marginal | The cost of producing one extra unit. |\n| customer profile and psychological factors | The description of an organisation’s customers in terms of for example, age, class, income, residential area, profession and the factors which influence their buying patterns. |\n| customer services | Activities which affect the process of buying, [e.g. free](e.g. free) delivery, credit schemes, after-sales service. |\n\n38 Cambridge International Diploma in Business – Advanced Level  \nResource list  \n\n| debenture | This is properly called stock – it is a means of raising long-term capital fora company. The assets of the company are collateral so, if the debenture holders are not paid their annual interest, they can sell assets. |\n| --- | --- |\n| decentralisation | Authority to take decisions is delegated downwards through the chain of command. Decentralisation gives more responsibility to employees. |\n| director | A private or public company acts through human agents, i.e. directors, who have the overall responsibility for the policies and direction of the organisation. |\n| disposable income | The amount a person has left out of wages or salary after the payment of taxes and essential expenses. The more disposable income people have, the more they can spend on luxuries. |\n| dispute | Conflict between employees and management. |\n| economic growth | A measure of how much an economy produces and how much the income per head increases over a period of time. |\n| economy | The nation, seen or considered in terms of its business activity. |\n| market economy | A system which relies on the market mechanism, i.e. interaction between supply and demand, to determine the allocation of resources. |\n| mixed economy | An economic syst","cbCaienvlYnpNjsB","https://ap.wps.com/l/cbCaienvlYnpNjsB","pdf",160380,22,"English","# 5.2 Glossary of terms\n## 5179 Business Organisation and Environment","[{\"question\":\"What is a break-even point in business terms?\",\"answer\":\"It is the point where a company’s revenue equals its costs; beyond this level the company begins to make profit, based on variable costs deducted from additional revenue.\"},{\"question\":\"How are horizontal and vertical communications different?\",\"answer\":\"Horizontal communications are information exchanged at the same management level (for example, between departments). Vertical communications move information up and down the chain of command.\"},{\"question\":\"What does decentralisation mean?\",\"answer\":\"Authority to take decisions is delegated downwards through the chain of command, giving employees more responsibility.\"}]","Glossary of terms - Business Organisation and Environment - Advanced Level | PDF",1790591947,55]