Unit 2 Flashcards
What is E-commerce
It is using online methods to advertise or buy on the internet
What is share holder
Someone who owns a share of a business/company
What is Intranets
A comnication network only acssed by employes
What is extranets
A communication network only acssed by organisation such as suppliers
What is ethics
If a business decisions are moraly right or wrong
What is the economy
The economy is made up of individual catomers and business and government take disions on what to buy and produce
What is a trade-off
A trade-off is a compromise between one thing and another There has to be a trade-off or compromise between making a profit and being ethical so everyone is happy
What is enviromental
Environmental can be defined as; relating to the natural world and the impact of human activity on its condition
What is sustainibility
Sustainability can be defined as; avoidance of the depletion of natural resources in order to maintain an ecological balance
What is global warming
Global warming can be defined as; the increase in Earth’s average surface temperature due to rising levels of greenhouse gases
What is non-renewable resources
They are those of which only a limited amount exsts such as coal and oil
What is fair trade
Fair trade products are those for which customers pay higher prices and offer better trading terms such as payments with orders the living standards of people countries where the products are produced
What is intrest rates
Interest rates are the cost of borrowing money or the reward for saving money
What is unenployment
The number of people willing to work but out of work and seeking work
What are consumers
Consumers are individuals who buy goods and services from business
What is globalisation
Globalisation is the process by which the world is becoming increasingly interconnected as a result of more international trade
What is multinational
A multinational is a business which trades in more than one country, often shortened to MNC
Why would a business import goods?
.Other countries make nice products that British people would love to use, try, eat and experience
• A business does not have to manufacture anything – it can simply import goods from abroad
What is legislation
Legislation is law
What is market
A Market is a voluntary meeting of buyers and sellers who trade or exchange goods or services.
What is risk
Business risk is the possibility a company will have lower than anticipated profits or experience a loss rather than making a profit.
What is un certainty
Uncertainty is when businesses are unable to predict external shocks or future events
