1.5 Flashcards
Pressure groups
Organisations formed to put forward a particular viewpoint, such as
promoting organic farming.
Stakeholders
All those groups with an interest in the success or failure of a business.
E-commerce
Selling online rather than in a physical one-to-one transaction. An important part of e-commerce is m-commerce, meaning commerce using apps/smartphones rather than websites/PCs.
Social media
Interactive channels of communication, via words, photos or videos, such as blogs, Facebook and Instagram.
Digital communication
Messages or conversations conducted via email, text or
social media.
Payment systems
Ways of paying electronically such as PayPal.
Consumer law
Acts of parliament that are intended to protect customers from misleading or dangerous practices by companies.
Consumer rights
Laws that empower the consumer to demand certain minimum
standards from every business supplier.
Legislation
Laws passed by acts of parliament; breaking these laws may result in a fine or even a prison sentence.
Red tape
The term given to laws that (some people say) tie the hands of business people, making it hard to act entrepreneurially.
Consumer spending
The total spent by all shoppers throughout the country.
Recession
A downturn in sales and output throughout the economy, often leading to rising unemployment.
Exports
Goods produced in one country but sold overseas.
Consumer incomes
The amount households have available to spend after income taxes have been deducted.
Economic climate
Like the weather, the economy can run cold or hot; the economic climate is a measurement of the current economic outlook, which might be promising or worrying.
