Flashcards
Business Studies Keywords
Cards in this deck (10)
- 1Sole Tradera person who is the exclusive owner of a business, entitled to keep all profits after tax has been paid but liable for all losses
- 2Franchisean authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, for example acting as an agent for a company's products
- 3Franchisorfranchisor provides a licensed privilege to the franchisee to do business
- 4Businessa person's regular occupation, profession, or trade
- 5Unlimited LiabilityUnlimited liability is not capped at a maximum amount and exists regardless of the amount of investment each owner has personally made. If the business is unable to meet any financial obligations or settle any outstanding liabilities, the owner's personal assets can be seized to satisfy the debts.
- 6Business PlanA business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.
- 7Market Sharethe portion of a market controlled by a particular company or product
- 8Market researchthe action or activity of gathering information about consumers' needs and preferences
- 9Tertiary Sectorthe sector of an economy concerned with or relating to tertiary industry
- 10Raw materialsthe basic material from which a product is made
Information
- Description
- Flashcards on Business Studies Keywords, created by tilt on 10/12/2014.
- Created by
- tilt
- Views
- 65
- Tags
- Rating