Business Keywords

Question 1

Business

Answer 1

A business provides goods and services which meet customers wants and needs. They do this because they believe they can make a profit

Question 2

Stake holder

Answer 2

An individual or a group of people who are interested or influenced by the decisions of a business.

Question 3

Good

Answer 3

You can buy it and have it at home - tangible

Question 4

Service

Answer 4

When it’s finished you pay and you go - intangible

Question 5

Producer products

Answer 5

Products sold by a business to another business

Ex -wood, plastic

Question 6

Consumer products

Answer 6

Products sold by a business to ordinary people

Ex - chocolate, iPhone

Question 7

Private enterprise

Answer 7

Private individuals trying to make profit

Question 8

Non for profit organizations

Answer 8

Private individuals who are trying to help others rather than make a prifit

Question 9

Public enterprise

Answer 9

Ran by the government, don’t want to make profit

Provides facilities and want to improve the society

Question 10

Need

Answer 10

Basic requirements for human survival

Question 11

Want

Answer 11

Peoples desires for goods and services

Question 12

Entrepreneur

Answer 12

A person that created a business by their own and has been successful

Question 13

Mission statement

Answer 13

This describes the purpose of a business