More Key Words

Question 1

Finance

Answer 1

Payment of interest on outstanding debt.

Question 2

Government

Answer 2

Payment of taxes contribution to the economy.

Question 3

Shareholder

Answer 3

A shareholder owns part of the business. They own a share in the decision making and get a split of the profits.

Question 4

Stakeholders

Answer 4

Stakeholders are individuals or groups who are affected by a business decision or action. They have an interest in the success of a business. Examples of these are staff, customers, owners, suppliers, local community, government, competitors and the trade union

Question 5

Conflict of interest

Answer 5

Where different groups of stakeholders each have a different perspective on an issue.

Question 6

Market research

Answer 6

Market research can be used to find out different things about markets or customers or competition. It involves gathering, analysing and presenting information.
A business needs to know what customers want, what they are likely to spend and what they think.

Question 7

Business

Answer 7

An organisation or economic system where goods and services are exchanged for one another or for money.
Business is not just about making a profit - important to rememberer - The Private and Public sector both have different aims and objectives.

Question 8

Market size

Answer 8

This is the value of the total sales of all firms in the market.