: Overdrafts (flexible bank borrowing), trade credit (delaying payments to suppliers).
Costs that change directly with output (e.g., raw materials, packaging). Total Costs (TC):
Revision notes for this qualification typically cover the following five themes: edexcel igcse business studies revision notes pdf
Production methods (job, batch, flow), economies of scale, and quality management. Recommended PDF & Online Revision Notes
Employment laws, health and safety regulations, and consumer protection laws restrict how businesses operate. Recommended PDF & Online Revision Notes Employment laws,
Making unique, one-off items tailored exactly to customer specifications (e.g., custom wedding cakes). High quality, but high unit costs.
Internal vs. external communication and barriers to effective messaging. Unit 3: Business Finance Funding: Internal and external sources of finance. Internal vs
Gathering first-hand, original data (e.g., surveys, focus groups, interviews). It is specific and up-to-date but expensive and time-consuming.
, break-even analysis, and financial ratios like liquidity and profit margins.
Expanding by selling new products or opening new branches using internal resources. Slow but low risk.
To produce goods and services to satisfy needs and wants.