Brainscape's Knowledge GenomeTM

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


See full index

Business Studies Flash Cards GCSE > Business In The Real World (Busuiness In The Real World) > Flashcards

Business In The Real World (Busuiness In The Real World) Flashcards

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 a business?

A

A business is an organisation designed to provide products and service.

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

What is a product?

A

A product is anything that is capable of satisfying a customer needs. It is tangable (Something You can touch)

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

What is a service?

A

A service is an act that a business person carries out for you (Intangable)

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

What are the 4 facords of production?

A

Land - Produce goods
Labour - People work in business
Capital - Money to get it started
Enterpise - Motivation from owners

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

What does tangable mean?

A

Tangable is something you can touch, for example a product.

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

What does intangable mean?

A

Intangable is something you cant touch, for example a service.

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

What is Land?

A

It produces goods

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

What is labour?

A

People who work in business

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

What is a capital?

A

Money to get it started

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

What is an enterprise?

A

Motivation from owners

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

What are the 3 business categories?

A

Primary (Dog)
Secondary (Make)
Tertiary (Sell)

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

What is a primary category?

A

Extracts raw materials from the planet

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

What is a secondary category?

A

It makes products that will satisfy customor needs, they also manufacture it

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

What is a tertiary category?

A

It sells products, and also support services. Examples are lorries and transport of goods

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

What is an Entreprenuer

A

Someone who has an idea to start a business and takes financial risk in the hope of making a profit

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

What do entreprenuers have to be?

A

Hard working
Inititave
Organised
Risk taker

17
Q

Define hard working

A

Put many hours into making the business work

18
Q

Define inititave

A

They have a good idea and want to take it to the market.
Inventiveness and recourcefulness

19
Q

Entreprenuer Objectives

A

To be your own boss
To identify a gap in the market
Earn more money
Presure an interest

Business Studies Flash Cards GCSE (10 decks)

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