Ch1 PEOPLE IN BUSINESS

Question 1

Name the stakeholders in a business

Answer 1

Entrepreneur,Investor,Employer,Employee,Producer,Consumer,Manager,Supplier,Service Provider,Government,Local community

Question 2

What does a Investor do and what are the types of Capital

Answer 2

Provides entrepreneur capital needed to establish and operate the business

Loan capital=Entrep takes out a loan from lender e.g bank and repays with interest over an agreed time

GRANT=money given by state agency’s and doesn’t need to be repaid e.g Local enterprise office

Question 3

What does a Producer do

Answer 3

Take Raw materials and transforms them during the manufacturing process into finished products

Question 4

What is a interest group (pressure group) and name a method they use

Answer 4

Is a group of people who meet and campaign for a common goal.

Boycotting=Refusing to buy goods or services.

Question 5

What’s a commercial and non commercial business

Answer 5

Commercial=provides goods and services and aim to make profit

Non commercial=put people and community ahead of profit

Question 6

Name the different relationships between stakeholders

Answer 6

Co-operative = work together towards a common goal

Competitive = work towards differnat goals

Dependent= need each other

Dynamic = constantly changing