Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Business Edexcel GCSE > 1.1.1 > Flashcards

1.1.1 Flashcards

The Dynamic Nature of Business

You may prefer our related Brainscape-certified flashcards:
GCSE Religious Studies - Edexcel Route A flashcards GCSE Religious Studies - Eduqas Route A flashcards GCSE Geography - AQA flashcards GCSE Religious Studies - Edexcel Route B flashcards GCSE Religious Studies - Eduqas Route B flashcards
1
Q

What is an Enterprise

A

entrepreneurial activity (can also mean business or company)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is an Entrepreneur

A

someone who creates a business, taking on financial risks with the aim of making a profit from the business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is Consumer

A

someone who buys and uses goods and services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is Obsolete

A

out of date or not used anymore

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is E-commerce

A

using the internet to carry out business transactions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is M-Commerce

A

using mobile technologies, such as smartphones and tablets, to carry out business transactions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is Social Media

A

websites that allow users to interact with other users, by sharing text based messages, pictures or links to online content

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What are Payment platforms

A

enable businesses to take online payments from customers. They are usually free for the customer to use, but take a small amount of commission from the seller

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is Marketplace

A

the activities involved in buying and selling services, in competition with other companies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is Data

A

information, particularly statistics that can be collected and analysed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is Demographic

A

relating to the population, such as average age, average income and so on

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Need

A

The products or services people need to make life comfortable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Want

A

What people choose to spend money on , once the weekly bills have been paid (rent, water, food)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Good

A

Products that may be fresh, such as apples, or manufactured, such as Heinz beans. They are tangible.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Service

A

Providing useful ways to help people live their lives, for example shops, restaurants and hospitals.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is Venture capital

A

Risk capital provided by an investor willing to take a risk in return for a share in any later profits; the venture capital

17
Q

What is Demand

A

The number of units that customers want – and can afford – to buy

18
Q

What is Adapted Products

A

Finding new products based on the original one, such as Wall’s White Chocolate Magnum

19
Q

What is Original idea

A

Ideas that have not been done before

20
Q

What is Competitive advantage

A

A feature of a business that helps it to succeed against rivals

21
Q

What is The Dynamic Nature of Business

A

The idea that business is ever-changing because external factors, such as technology are always changing

Business Edexcel GCSE (6 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions