Main Headings| | Vocabulary| Definitions in your own words| 1.1 nature of headache Activity| | Business| An organization problematic in the process of using infixs to produce goods and/or to bequeath work| | | Products| Goods or services| | | Goods | Physical intersections, tangible ( goods trick be broken down further into many contrary categories)| | | work | Intangible products that can only be see| | Business and their purpose| Needs | The basic things that a somebody postulate in order to survive| | | Wants | The products that people take int need but desire| | The market taper| trade| A place or process where buyers and sellers find out to supersede products for money| | | Customers | The Individual or organization that purchases a product| | | Consumers | The Individual or organization that actually uses the products | | Types of products | Consumer goods| Products which argon interchange to the public, rather than other lineagees| | | Capital goods| Products meant for other business which jock in the production of other goods and services| | Adding scotch value| Added value| Difference between the value of input (raw materials) and the value of railroad siding (finished G&S)| | hazard speak to and business drill| Opportunity cost| The next best alternative forgone when end making| | The role of derive in business performance| Profit | The positive disparity between a levels tally tax income and its total cost| | | Revenues | The inflow of money, from selling products| | | Cost | The spring of money| | | Loss | The banish difference between a firms total revenue and its total cost| | Factors of production| Land | Anything course occurring in nature| | | renewable resources| The products that replenish themselves| | | Non-renewable resources| Products that cannot be replaced in one case consumed| | | craunch | Human working force| | | Capital |...If you indispensability to constitute a full essay, order it on our! website: OrderEssay.net
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