OCR · GCSE · J204
Business — Keywords & Key Terms — Definitions Glossary (2026)
OCR GCSE (9–1) Business (J204)
Topic-by-topic keywords, key terms and definitions for precise exam language—separate from our revision checklists (topic coverage) and formula sheets (equations).
Keywords & Key Terms — definitions
Examiner-style keywords and definitions organised by syllabus topic. Terms are tagged Essential (start here), Core (typical exam standard), and Advanced for harder distinctions — tick each row when you can recall it. Your progress is saved in this browser for this list.
OCR GCSE Business (J204)
OCR GCSE Business (J204)
OCR GCSE (9–1) Business (J204)
Aligned to OCR J204: Business activity, marketing and people (Component 01) and Operations, finance and influences on business (Component 02). Case studies require applied responses.
Mark schemes: OCR rewards application — quote case-study figures and link concepts to the specific business in the stem. Calculation questions: show formula, substitution, units. Generic theory bullet points score Level 1 only.
Active recall: 0 / 25 terms ticked
| Recalled | Topic | Level | Keyword | Definition |
|---|---|---|---|---|
| Business activity | Essential | Enterprise | Willingness to take risks to start or grow a business. | |
| Business activity | Core | Goods vs services | Tangible products vs intangible activities supplied to customers. | |
| Business activity | Core | Public vs private sector | Government-owned vs privately owned organisations. | |
| Business activity | Core | Business aims and objectives | Survival, profit, growth, market share, social goals. | |
| Business activity | Advanced | Stakeholder | Anyone with an interest in the business — owners, employees, customers, community. | |
| Marketing | Core | Marketing mix (4Ps) | Product, Price, Place, Promotion — coordinated to satisfy target market. | |
| Marketing | Core | Primary vs secondary research | First-hand data collection vs use of existing data. | |
| Marketing | Core | Market segmentation | Dividing market by demographics, location, lifestyle or behaviour. | |
| Marketing | Core | USP | Unique Selling Point — what differentiates a product from competitors. | |
| Marketing | Advanced | Pricing strategies | Penetration, skimming, competitive, cost-plus — chosen to fit objective. | |
| Operations & production | Core | Productivity | Output per worker (or per hour) — efficiency measure. | |
| Operations & production | Core | Job, batch and flow production | One-off vs grouped vs continuous production methods. | |
| Operations & production | Core | Just-in-Time (JIT) | Stock arrives as needed — minimises holding costs but vulnerable to delay. | |
| Operations & production | Core | Lean production | Eliminate waste in time, resources and process. | |
| Operations & production | Advanced | Quality assurance vs quality control | Build quality in throughout vs inspect finished output. | |
| People in business | Core | Recruitment | Attracting and selecting suitable applicants — internal vs external. | |
| People in business | Core | Induction / on-the-job / off-the-job training | Initial orientation vs learning at work vs learning away from work. | |
| People in business | Core | Maslow's hierarchy | Five levels — physiological, safety, social, esteem, self-actualisation. | |
| People in business | Advanced | Herzberg's two-factor theory | Hygiene factors prevent dissatisfaction; motivators drive satisfaction. | |
| Finance | Essential | Revenue | Income from sales = price × quantity sold. | |
| Finance | Core | Profit | Total Revenue − Total Costs. | |
| Finance | Core | Fixed vs variable costs | Costs unchanged by output vs costs that rise with output. | |
| Finance | Core | Break-even output | Fixed Costs ÷ (Selling Price − Variable Cost per unit). | |
| Finance | Core | Cash flow | Timing of money in and out — liquidity, not the same as profit. | |
| Finance | Advanced | Margin of safety | Current output − break-even output — buffer before losses. |
Pair this with our revision checklists, formula sheets hub and past paper finder.
Business (J204) — Keywords & Key Terms FAQ
- What is on this OCR GCSE Business keywords and key terms list?
- It is a topic-organised glossary of important business terms with short, exam-style definitions aligned to OCR GCSE (9–1) Business (J204) (J204). It is designed for “define”, “state”, “outline” and “explain” questions where precise vocabulary earns marks.
- How should I use this Business glossary alongside past papers?
- Tick terms when you can recall them without reading the answer, then check your wording against mark schemes. Pair vocabulary practice with past papers for GCSE Business (J204) so you apply terms in context.
- Is this the same as a revision checklist or a formula sheet?
- No. Revision checklists help you track which syllabus topics you have covered and your confidence—separate pages on Tutopiya. Formula sheets summarise equations and quantitative relationships. This page is only a definitions and key-terms glossary for Business.
- Can I download this Business keywords and key terms list for free?
- Yes. After a quick free sign-up you can download a UTF-8 CSV (opens in Excel or Google Sheets) or open a print-friendly page and save as PDF. Browsing the list on the page is free.
- Is this Business list aligned to the J204 specification?
- Topic groupings and wording follow OCR GCSE (9–1) Business (J204) for OCR GCSE. Always confirm final learning objectives and any regional options in your official specification and recent examiner reports for your exam session.
- Why focus on definitions instead of full notes?
- Mark schemes reward correct technical terms and clear links between ideas. A compact glossary lets you drill the exact language examiners expect for Business at GCSE, separate from longer notes or topic trackers.