Theme 1 - Investigating Small Business

Question 1

Segmentation

Answer 1

The process of breaking something up into smaller parts

Question 2

Demographics

Answer 2

Relating to the structure of a population

Question 3

Profit

Answer 3

The amount of revenue left over once costs have been deducted

Question 4

Social objective

Answer 4

Likely to be non-financial, such as to reduce the carbon emissions of a business or improve the quality of life for a local community

Question 5

Enterprise

Answer 5

Entrepreneurial activity (can also mean a business or company)

Question 6

Entrepreneur

Answer 6

Someone who creates a business, taking on financial risks with the aim of making profit from the business.

Question 7

Consumer

Answer 7

Someone who buys and uses goods and services.

Question 8

Obsolete

Answer 8

Out of date or not uses anymore.

Question 9

M-commerce

Answer 9

Using mobile technologies, such as smartphones and tablets, to carry out business transactions.

Question 10

E-commerce

Answer 10

Using the internet to carry out business transactions

Question 11

Social media

Answer 11

Websites that allow users to interact with others users, by sharing text based messages, pictures or links to online content.

Question 12

Payment platform

Answer 12

Enable business to take online payments from customers. They are usually free for the customer to use, but take a small amount of commission from the seller.

Question 13

Marketplace

Answer 13

The activities involved in buying and selling goods or services, in competition with other companies.