1.1.3 Flashcards
1
Q
Meet customer’s demands
A
Fast, efficient and accurate service.
High quality products at a competitive price
2
Q
To add value
A
Added value – the difference between what a business pays its suppliers, and the price it is able to charge for its product Or service
3
Q
What is an enterprise
A
It is about taking risks, being creative and innovative and using your initiative
4
Q
What is a entrepreneur
A
*An entrepreneur develops a business idea and then hires and organises the factors of production to carry out the business activity
