people in business Flashcards
commercial business
a business that provides a good or service with the aim of making a profit
non commercial business
the business provides a service that puts the people before profit
entrepreneur
a person who spots a gap in the market comes up with a business plan and takes personal and financial risks when setting up the business with the aim of making a profit
investor
person who supplies the entrepreneur with the capital to set up and run the business
employer
person who hires the staff, ensures a safe workplace, and pays a fair and agreed wage
employee
person hired to work in the business in return for a wage/salary
producer
takes raw materials and processes them into finished products eg fishmonger takes fish and turns them into fish finger
consumer
person who buys goods and services for their own personal use
manager
person responsible for the day to day running of the business
supplier
other firms who supply the business with raw materials or finished goods for resale
service provider
business that provides necessary services for other businesses to run successfully eg banks and transport firms
government
people elected to run the country. the government taxes businesses and also provides them with support
local community
individuals, households and organizations located close to the business
competitor
a rival firm competing for market share in the same line of business eg Lidl and Aldi
Interest groups
a group of people who work together to campaign for a common goal eg to influence the government to reduce taxes
They use a variety of techniques to influence decision makers eg lobbying or boycotting
