Something a person can live without but they still want, i.e computers
2 of 13
stakeholders
People who have an intrest in a business, i.e a stakeholder of tesco would be asda (competition)
3 of 13
aims
the general statements or sentences that identify the target of a program
4 of 13
objectives
specific target set in order to achieve the goal on a larger front
A SMART target
5 of 13
oppertunity Cost
What is lost from making a decision i.e the store owner can either buy some shelves or a till, the oppertunity cost wen he buys the shelves is the till
6 of 13
Public sector
A free service for the public ran by the government
7 of 13
Private Sector
Businesses ran by private individucals that have the main aim of making a profit
8 of 13
Primary Sector
The extraction of raw materials from the ground
9 of 13
Secondary Sector
The manufacturing of the raw material into a product
10 of 13
Tertiary Sector
Businesses that sell the manufactured product and services
11 of 13
Interdependance
When one business depends on the other so that it can survive
12 of 13
De-industrialisation
The decline in employment in the secondary sector of a country
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