Theme 1 hard definitions

Opportunity cost

Trade-off

Positive statements

Normative statements

Satisficing

Creditors

Tax evasion

Tax avoidance

Creative destruction

Added value

Social entrepreneur

Working capital

Effective demand

Demand schedule

Contraction of demand

Extension of demand

Shift in the demand curve

Short run

Long run

Ceteris paribus

Quantitative market research

Qualitative market research

Quota sample

Stratified sample

Market segmentation

Market positioning

Collateral

Financial intermediaries

Unlimited liability

Limited liability

Private limited companies

Public limited companies

Retained profit

Equity

Ordinary share capital

Venture capital

Trade credit

Command economy

Capital spending

Operating costs

Contribution

Break-even point

Margin of safety

Sunk costs

Statement of comprehensive income

Insolvency

Liquidity