Need

Want

Economic problem

Factors of production

Scarcity

Opportunity cost

Division of labour

Businesses

Added value

Primary sector

Secondary sector

Tertiary sector

De-industrialisation

Mixed economy

Capital

Entrepreneur

Business plan

Capital employed

Internal growth

External growth

Integration

Merger

Takeover/acquisition

Horizontal integration

Vertical integration

Conglomerate Integration / Diversification

Sole trader

Limited liability

Unlimited liability

Partnership

Partnership agreement

Unincorporated business

Incorporated Businesses

Shareholders

Annual general meeting

Dividends

Joint venture

Franchise

Business objectives

Profit

Market share

Social enterprise

Stakeholder