Business Key Words Unit 1

Capital Intensive Process

Labour intensive process

Goods

Services

Primary sector

Secondary sector

Tertiary sector

Quaternary sector

Chain of production

Entrepreneurs

Intrapreneurs

Sole trader

Partnership

Company

Dividends

Limited Liability

Social Enterprise

Cooperative

Public Private Partnership

Private sector

Public sector

Private Limited company

Public Limited company

Micro-financiers

Surplus

Deficit

Revenue

Non-Governmental Organizations (NGO's)

Vision statement

Mission statement

Aims

Objective

Business strategy

Business tactic

SWOT analysis

Diversification

Internal stakeholders

External stakeholders

shareholders

stakeholder

Economies of scale

Diseconomies of scale

Fixed costs

Variable costs

Average costs