1.1 Flashcards
1
Q
What is a good
A
A good is a physical product such as a car.
2
Q
What is a service
A
A service is an intangible product (that is, you cannot touch it) such as financial advice or a bus journey.
3
Q
What is a customer
A
A customer is someone who buys a product from a business.
4
Q
What is a consumer
A
A consumer is someone who uses goods and services produced by businesses.
5
Q
What is an entrepreneur
A
An entrepreneur is someone who is willing to take the risks involved in starting a new business.
6
Q
What is entrepreneurship
A
Entrepreneurship refers to the ability to be an entrepreneur-to take risks to develop a business idea.
