1.1 Business in the real world Flashcards
Good
A physical product e.g a car
Service
A service is a intangable product such as a bus journey
Business
A business is an organisation provides a good or supplies a service
Customer
A customer is someone who buys a product
Consumer
A consumer is someone who uses good or services produced by a business
Entrepeneur
It is a person who organises manages and takes on the risks on a business
Social enterprise
A business that does not plan to save the society
Resource
Resources are the inputs that businesses use to provide their goods or services
Enterprise
An enterprise is another word for a business
Interest
Interest is the money paid by banks as a reward to attract people to save with them
What is an aim
A general goal of a business
What is an objective
Its a specific target that is set for for a business to achieve
