Can you please check these definitions are correct for my GCSE business studies?
I have to write the definition of these words without using the words itself. E.g Raw materials, you can’t say materials that are raw.
Raw materials – An unprocessed natural product used in manufacture (or another product)
Prototype – A model/sample of a processing product.
Quality control – Making sure the standard of a product fulfills the customers need.
Profit margin – (haven’t found a way to place it yet)
Cost fee – Where a product is being sold for the same amount of money it took the seller to make/buy.
Selling fee – The amount of money a buyer must pay for a product.
Production line – (haven’t found a way to place it yet)
Thank you.
Also, if you can help me write a definition for the ones i haven’t done would be fantastic.
Sorry, raw materials end bit is meant to be *of not *or.
Yeah there right.
Profit margin is the profit made shown as a percentage
Production line is a type of production method where you can mass yield a product quickly, often with very small manual labour. Machines do most of the tasks but it depends on the product.
Yeah there right.
Profit margin is the profit made shown as a percentage
Production line is a type of production method where you can mass yield a product quickly, often with very small manual labour. Machines do most of the tasks but it depends on the product.
References :
Profit margin – The difference between the selling fee and the cost fee of a product.
Production line – the chain of physical processes the raw materials are place through to yield the finished product.
These are only suggestions. It has been a very long time in view of the fact that I studied anything like this and I by no means covered GCSE business studies.
Regarding your definition of cost fee. I would just define it as the amount of money it took to buy or manufacture the product. I don’t reckon you need to refer to the selling fee in this definition.
Looking at raw materials. If you buy a processed product which is a component of something you are manufacturing is that not considered a raw material? You seem to be without this possiblility in your definition but you may be right. I am probably out of touch these days.
References :