Influences in the Business environment Flashcards
1
Q
What does Gdp mean?
A
Gross domestic product-the measure of the total value of all goods produced and services provided within a country domestic economy in one year.
2
Q
What is the definition of importing?
A
The purchase of goods or services from other countries
3
Q
What is the definition of exporting?
A
The sale of goods or services to other countries
4
Q
What is the definition of outsourcing?
A
A firm making a commercial arrangement for another firm to perform one of the support services that it once performed.
5
Q
What is the definition of Target Market
A
The focus of the firms marketing strategy. It will include existing as well as potential customers
6
Q
Who are stakeholders in business?
A
Consumers, Environment, Financiers, distributors, unions, competitors
