1.1 Business In The Real World Flashcards
Good
A good is a physical product for example a car, trainers etc.
Customer
A customer is someone who buys a product
Entrepreneur
An entrepreneur is someone who is willing to take risks involved with starting a new business
Service
A service is an intangible product for example financial advice.
Consumer
A consumer is someone who uses a product.
Social enterprise
A social enterprise is a business that is set up to help society rather than for profit
A business
A business is an orginisation that provides a good or supplies a service
Resources
Are the inputs that businesses use to provide their goods or services
Interest
Is the money paid by banks as a reward to attract people to save with them
Whats a primary sector
Extracts raw material from the planet
What is the Secondary sector
Manufactor from raw materials
what is the Tertiary sector
Sell the product or services
