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JC Business Studies
JC Business Studies
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Introduction to Economics Notes for Business

Personal Insurance Notes for Junior Cycle Business

The Time Value of Money

http://www.youtube.com/embed/MhvjCWfy-lw?rel=0&hd=1&showsearch=0&showinfo=0&autoplay=0&wmode=transparent&iv_load_policy=3&modestbranding=0

We’ve all heard the phrase “Time is money.” But what do these two things actually have to do with one another? This video explains the math behind interest rates, revealing the equation that will allow you to calculate the future value of your money (if you wisely put it in the bank, that is).

Getting Started & Ownership Structures

Why start a business?

  • Challenge: Some people will become restless working for someone else, want more of a challenge
  • Profit: Setting up the business offers the chance of earning profits
  • New Ideas/Inventions:
  • Circumstances: People can be forced to set up their business due to unforeseeable circumstances e.g A redundant worker with a sum of money

Problems in setting up a business:

  • Right Product: getting the right product that will satisfy the needs for the customer fully e.g. Value for money
  • Cash Flow: new starts ups often fail because cash flow issues i.e. run out of cash
  • Premises: finding the... (More)