Cambridge International AS & A Level Business 9609/12 Mark Scheme Overview
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Description and Tags
These flashcards cover key vocabulary and concepts relevant to the Cambridge International AS & A Level Business mark scheme, guiding students in their exam preparation.
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13 Terms
Cambridge International AS & A Level
A qualification offered for students completing secondary education, covering various subjects including business.
Mark Scheme
A guide used by examiners that outlines how to allocate marks for responses given by candidates in an examination.
Generic Marking Principles
A set of guidelines that examiners follow to ensure marks are awarded consistently and fairly across all candidate responses.
External Growth
A method of business expansion involving mergers and acquisitions to grow in size and market presence.
Job Description
A document that outlines the tasks, duties, and responsibilities required for a specific position, distinct from the qualifications of the employee.
Internal Recruitment
The process of filling vacancies within an organization by promoting or transferring current employees.
Capital Intensive Operations
Business operations that rely heavily on machinery and technology rather than human labor to produce goods.
Product Differentiation
The process of distinguishing a product from others in the market to make it more attractive to specific target consumers.
Contribution Costing
A costing method that considers only the variable costs of production, ignoring fixed costs, to determine profitability.
Working Capital
The funds available to a business for its day-to-day operations, calculated as current assets minus current liabilities.
Labour Turnover
The rate at which employees leave a company and are replaced by new employees, with implications for stability and costs.
Employee Welfare
The various services, benefits, and facilities provided by an employer to improve the wellbeing of employees.
Evaluation
The process of making a judgment about the significance or value of something, in this context related to business decisions.
