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Business > Unit 1 > Flashcards

Unit 1 Flashcards

1
Q

Private sector

A

Made up of businesses owned by individuals of groups of individuals

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2
Q

Public sector

A

Made up of businesses owned by the government

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3
Q

Sole trader

A

A business that is not registered and owned by just one person

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4
Q

Partnership

A

Is a business owned by 2 to 20 people

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5
Q

Private limited company (LTD)

A

Company owned by shareholders. Shares can only be traded privately

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6
Q

Public limited company

A

Owned by shareholders. Shares are openly traded on a stock exchange

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7
Q

Limited liability

A

Can only lose the money that you’ve invested

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8
Q

Unlimited liability

A

One or more individuals are liable for their companies taxation and debt

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9
Q

Incorporation

A

Business is separate to owners and share holders so they only lose the money the put in

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10
Q

Unincorporated

A

Business and owners and shareholders are together

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11
Q

Share holders

A

An owner of shares in a company

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12
Q

Venture capitalist

A

A private investor that provides capital to companies

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13
Q

Stock exchange

A

The level of prices in a particular stock exchange

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14
Q

Flotation

A

Offering a company’s shares for sale on the stock market for the first time

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15
Q

B2B

A

Business to business

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16
Q

B2C

A

Business to customers

17
Q

External factors that affect business

A

Economic factors
Demographic factors
Environmental and social factors
Market factors

18
Q

What is the acronym for the range of influences in the external environment that affects all businesses

A

PESTLE

19
Q

What is interest rate

A

It is the cost of borrowing money & the reward for lending money

20
Q

Examples of social factors

A

Buying habits
Consumer tastes
Cultural and social trends
Demographic changes

21
Q

Technological factors

A

Innovation
Social media
Data storage

22
Q

Legal factors and environmental factors

A

Legal
Legislation
Health and safety
Employment law

Environmental
Fair trade
Impact
Carbon emissions
CSR

Business (14 decks)

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