1.1 Business In The Real World Flashcards
A good
A good is a physical product (e.g. a car).
A customer
A customer is someone who buys a product.
A service
A service is an intangible product (something you cant touch) e.g. A bus journey.
A consumer
A consumer is someone who uses goods or services produced by a business.
A social enterprise
A social enterprise is a business that is set up to help society rather than to make a profit.
A entrepreneur
An entrepreneur is someone who is willing to take the risks involved in starting a new business.
A business
A business is an organisation that provides a good or supplies a service.
Resources
Resources are the inputs that businesses use to provide their goods or services.
An 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.
