The rest of The stuff Flashcards
(7 cards)
1
Q
What are the 3 sectors of the economy
A
Private sector
Public sector
Third sector
2
Q
What are the 3 sectors of industry
A
Primary
Secondary
Tertiary
3
Q
What are the factors of production (CELL)
A
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
Q
What are 3 reasons that customer satisfaction is important
A
- It increases customer loyalty
- move people will come if the business has a good reputation
- satisfies customers may recommend it to friends
5
Q
What are the external factors that influence a business (PESTEC)
A
Political Economic Social Technology Environmental Competitive
6
Q
What are the internal factors that influence a business
A
Employees
Managers
Technology
Finance
7
Q
What are 4 examples of stakeholder groups
A
Employees
Suppliers
Managers
Banks
