The following is a non exhaustive list of terms that you could possibly be asked to define in component one section b. All these terms are related to industry. This is the part of media that explores how media products are made, and how they make money. This is why you'll see nothing about representation or audience here!
For actual definitions of these terms, check out the media studies glossary, which should define absolutely everything that you need to know!
Advertising
Agenda/news agenda
ASA
BBFC
Brand
Brand identity
Broadcasting
Broadsheet
Circulation
Conglomerate/conglomeration
Convergence
Demographic
Digital convergence
Digital technology
Distribution
Diversification
Horizontal integration
Independent label
IPSO
Left wing
Major label
Marketing
Monopoly
Multimedia integration
Narrowcasting
Oligopoly
PEGI
Unique selling point
Price
Readership
Regulation
Right wing
Subsidiary
Synergy
Tabloid
Target Audience
Vertical integration
Watershed
Web 2.0/3.0