understanding the nature and purpose of a business Flashcards
1
Q
what is a good
A
physical , tangible item
2
Q
whats a service
A
intangible
3
Q
what are the 3 business sectors in an economy
A
primary - agriculture , mining
secondary - manufacturing , construction
tertiary - the supply of services , hotels education , health.
4
Q
what does a mission statement set out
A
what a firm in trying to achieve
5
Q
what is a mission statement
A
statement of the firms belifs or values
6
Q
what are aims
A
long term plans
7
Q
what are objectives
A
medium to long term targets
