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Flashcards in starting an entraprise Deck (16)
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1
Q

what is a buisness

A

where people provide a servise and or goods fpr a customer

2
Q

what do people take on if they start a buisness

A

risks

3
Q

these people are called what

A

entrepreneurs

4
Q

why are buisnesses set up

A

to make a profit

5
Q

some times there aims are to

A

provide a servise to the comunity

6
Q

when aims are to help the community theyare called

A

social enterprise

7
Q

a sussesful buisness will understand its

A

market and custmers

8
Q

a market is situwaed

A

where a buyer and seller come together to agree on a sale

9
Q

supply and demarnd is what

A

work together to to decide on a price of the product

10
Q

to succeed a buisness will need ton have a

A

unique selling point (USP)

11
Q

how a buisness will complete. and how many compeiters will there be

A

many

12
Q

to find out about the competitors that will make

A

competitors profile

13
Q

buisness know how to to compete by adding

A

value and that customers will pay for

14
Q

they can add value by

A
better servise 
convenience 
provide different ways that people can pay 
be efficient 
provide special design feachers
15
Q

gap in the market what is it

A

this is a product that has not been created

16
Q

how is the gap in the market achieved

A

by advertising