The rest of The stuff Flashcards Preview

Business > The rest of The stuff > Flashcards

Flashcards in The rest of The stuff Deck (7)
Loading flashcards...
1

What are the 3 sectors of the economy

Private sector
Public sector
Third sector

2

What are the 3 sectors of industry

Primary
Secondary
Tertiary

3

What are the factors of production (CELL)

Capital - the man mass resources needed to make a product
Enterprise - the business idea
Land - the natural resources needed to make a product
Labour - the workforce

4

What are 3 reasons that customer satisfaction is important

- It increases customer loyalty
- move people will come if the business has a good reputation
- satisfies customers may recommend it to friends

5

What are the external factors that influence a business (PESTEC)

Political
Economic
Social
Technology
Environmental
Competitive

6

What are the internal factors that influence a business

Employees
Managers
Technology
Finance

7

What are 4 examples of stakeholder groups

Employees
Suppliers
Managers
Banks