BUSINESS ACTIVITY?

• What is a business?

  An organisation that provides goods and or services
• What is an organisation?

  a group such as a club or business, that has formed for a particular purpose
• What are 'goods'?

  physical products such as a mobile phone
• What are services?

  non-physical products such as banking and car washing
• What is 'output'?

  an amount of goods or work produced by a person, machine or factory
• What is human resources?

  the department that deals with employing, training and helping people
• What are consumer goods?

  goods and services sold to people rather than businesses
• What are producer goods?

  goods and services produced by one business for another
• What are some examples of consumer goods?

  • phone
  • crisps
  • handbag
• What are some examples of consumer services?

  • banking
  • hairdressers
  • car repairs
• What area some examples of producer goods?

  • office furniture
  • tools
  • tractor
  • delivery van
• What are some examples of producer services?

  • printing
  • insurance
  • software design
• What are 'needs'?

  basic requirements for human survival
• What are 'wants'?

  peoples desires for goods and services
• What is 'scarce'?

  resources with limited availability
• What is a private sector orgainisation?

  businesses owned by individuals or groups of individuals
• What is a public sector enterprise?

  businesses owned by central or local government
• What is a social enterprise?

  a non profit making organisation
• What are examples of a social enterprise?

  • charities
  • youth groups
  • sports clubs
• What is a stakeholder?

  an individual or group with an interest in the operation of a business
• What are the different business stakeholders?

  • owners
  • managers
  • employees
  • suppliers
  • customers
  • local community
  • financiers
  • government
• What is an entrepreneur?

  a person who takes risks for a business or organises other factors of production and risks their own money in a business venture
• Which product is designed to satisfy a need?

  bread
• Which is a business stakeholder?

  customer
• Which is a service?

  dental treatment
• Which is a producer good?

  tractor
• What does E.B.I.T.D.A stand for?

  Earnings

  Before

  Interest

  Tax

  Depreciation

  (and)

  Amortisation