What is business activity Flashcards
What is a need
a good or service that people need to survive, food water etc
what is a want
a good or service that people desire but is not a nessesity, example a luxury motorbike
what is a business
an organization that provies goods or a service
Business activity produce output, what is an output
amount of goods or work produced
human resources
business departments that deal with employing training and helping people
what is scarcity
where something is in a limited amount and not easily obtained
what is the private sector
business organisations owned by a an individual or groups of individuals
what is the public sector
businesses owned by the local or central government
what is a social enterprise
organisations that are non profit to aid a cause
what is a private enterprise
a business owned by individual or group of individual with the purpose making money or building influence, like building a brand
what is a public enterprise
a business owned by the government to provide goods or services that private enterprises may fail to provide properly
what is a stakeholder
an individual or group with an intereest to take part in the operation of a business
what is an entrepreneur
a person who takes risk to set up a business
what are financers
an entity that lend money to a business, could be individuals, groups or banks
what is EBITDA
earnings before interest, tax, depreciation and amortisation
