1.1 Business In The Real World Flashcards
Goods
A product you can touch
Service
A business that delivers goods to the customer
Business
A organisation set up to make profit
Customer
Someone who purchases the good
Consumer
Someone that uses the good
Entrepreneur
Someone that takes the risks of starting a new business
Social enterprise
A business that is focused on helping society rather then making profit
Dividends
Are the financial rewards paid out to shareholders each year
Negotiation
Occurs when two sides discuss what they want and try to reach a solution
Profit
A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
Market share
The percentage of the total revenue or sales in a market that a company’s business makes up.
Aim
A long-term goal and is the result of many objectives set by the business
Inflation
Refers to the rate at which prices are increasing
Interest rates
Refer to the cost of borrowing money or the reward for saving money
