Business 1.5 Flashcards
Pressure groups
organisations formed to
put forward a particular viewpoint, such as
promoting organic farming.
Stakeholder
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.
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 businesspeople,
making it hard to act entrepreneurially.
Consumer spending
the total spent by all
shoppers throughout the country.
Exports
goods produced in one country but sold
overseas, for example a British-made Mini sold
in France.
Recession
a downturn in sales and output
throughout the economy, often leading to rising
unemployment.
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.
Exchange rate
the value of one currency
measured by how much it will buy of other
currencies.
