1.1 What is Business Activity? Flashcards
1
Q
Business
A
Organisation that exists to identify, produce and deliver goods and services profitably and meet the needs and wants of costumers
2
Q
human resources
A
department that deals with employing, training, and helping people
3
Q
Needs
A
basic requirements for human survival: water, clothing, food, shelter
4
Q
wants
A
people’s desires for goods and services
5
Q
Scarce
A
resources with limited availability
6
Q
stakeholder
A
individual or group who has an interest in the operation of a business: costumers, local community
7
Q
entrepreneur
A
person who takes risks and sets up a business. organises other factors of production and risks his own money. innovators
8
Q
EBITDA
A
earnings before interest, tax, depreciation, and amortisation
9
Q
premises
A
buildings and land used by a shop or business
