Project 1 key words

Question 1

Meaning of “business”?

Answer 1

Is an organisation or system where good and/or services are traded for one another or for money.

Question 2

Meaning of “factors of business”?

Answer 2

Are the resources required to supply goods or services. For example; land, labour, enterprise, capital.

Question 3

Meaning of “business plan”?

Answer 3

Is a document produced by a business or entrepreneur that details what they plan to do in order to get there.

Question 4

Meaning of “stakeholder”?

Answer 4

Is an individual or group that has an interest in a business or its activities.