Business A-Level
payback
What payback means in Business A-Level, as defined for AQA.
Definition of payback
Check what you remember
Read the wording for your board, then hide it and explain payback in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
The time taken for net cash inflows to cover the initial outlay, quoted in years and months.
Topics that use payback
- Assessing innovation (AQA A-Level)
Related terms
- average rate of return
- benchmarking
- capacity and quality
- competitive pressure
- funding and cash flow
- intrapreneurship
- Kaizen
- managing resistance
Using payback in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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