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economies of scale
the more units of something you buy, the cheaper it becomes per unit
They benefited from economies of scale when they opened their second shop and were able to buy in even bigger quantities from their supplier.
a budget
the amount of money a business (or person) plans to spend on something
We've got a budget for our wedding but we've already spent almost all of it on her dress.
overspend or go over budget
spend more money than you planned to
We need to keep a tight hold on our marketing spending or we'll go over budget.
We need to keep a tight hold on our marketing spending or we'll overspend.
break even
the point where the amount you pay out in expenses is covered by the amount of money you get for things you have sold (i.e. you haven't made a profit or a loss)
We need to sell 100 family cars or just three sports cars to break even.
make a loss
when your expenses are more than your sales
When they started in business they made a loss for two years. But finally, things started to change for them last year.
make a profit
when a business is able to cover all its expenses from sales and still have extra money left over
The restaurant has been making a profit for years and it's still doing very well.
money-spinner
something that is very popular and easy to sell
During the World Cup, having a stall that sells flags from different countries is a real money spinner.
cash cow
a product that makes a lot of money (often easily) for a company
Making the film cost us millions. But at least we've got the DVD, dolls and clothes cash cows to help us cover those enormous costs.
mass market
things that are sold in large numbers to a lot of people
Our family cars are aimed at the mass market, while our sports cars are more for the niche market.
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asking price
the amount of money you want when you sell something, (especially in a situation when you might agree to a lower price later)
The asking price for the car was £10,000 but she ended up getting it for £8,500.
a price war
when different companies compete with each other by lowering prices
The supermarkets started a price war on bread last month. Each week the cost of a loaf gets lower and lower.
a price tag
a sticker or piece of paper on something in a shop that tells you how much something costs
These shoes are gorgeous. I don't think I want to look at the price tag!
be price-conscious
be aware of how much things cost and avoid buying expensive things
My mum's very price-conscious. She buys practically all of our clothes in the sales
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let's get cracking
(informal) let's start
demand
something that people want to buy
state
(formal) say
inversely related
as one thing goes up, another thing goes down
in the balance
something will be decided soon - one way or another
rash
hasty, sudden
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