Market Vocab Flashcards
Sleeping partnership
Who invests,not involved in day to day running
Market is
A place where buyers and sellers meet to exchange goods and services.
Competition
Number of businesses in a market.eg supermarkets ,smartphone producers.
Local market
Selling goods ,services in specific area
Global market goods and bads
Goods more markets ,spreads risks of one failing
Can make production more efficient (economies of scale)
Bads have to consider dif between countries cultures ,language ,income
Niche market
Targets small segment of overall market that has specific needs/wants
Trade markets
Businesses sell goods to other businesses -B2B
Happens before product reaches consumer
Consumer marketplace up of general public
Made of public who buy product for own consumption.
Market share
Proportion of total sales particular firm controls
Sales of one product÷total sales ×100
Quota sampling
Involves population being segme Ted into specific groups with same characteristics then number selected from each group.
Sampling
When researchers take selection of pop who represents whole pop eg quota and random.
Random sampling
Statistical subset pop where a member of pop has same chance of being interviewed.
Charities
Non profit organisatio aim to collect money spending it on cause specified to title.
Social enterprises
Aim to solve probs ,improve communities they operate in they don’t exist solely for profit.profits usually reinvested to achieve ethical goal.
Leasing
Business pays for use of asset but never own improves short term Chasetown compared to buying asset outright.
