More Key Words Flashcards

1
Q

Finance

A

Payment of interest on outstanding debt.

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2
Q

Government

A

Payment of taxes contribution to the economy.

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3
Q

Shareholder

A

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

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4
Q

Stakeholders

A

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

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5
Q

Conflict of interest

A

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

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6
Q

Market research

A

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.

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7
Q

Business

A

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.

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8
Q

Market size

A

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

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