physical and tangible goods sold to the general public, includes durable goods like car, table or non-durable goods like food,drink that can only used once
1 of 9
Capital services
non-tangible products sold to the general public such as insurance service, hotel accommodation, train journey
2 of 9
Capital goods
physical goods used by the industry to aid in the production of other goods, services like machines, commercial vehicles
3 of 9
Creating value
increase the difference between material's costs and selling price
4 of 9
Added value
difference between material's cost and selling price
5 of 9
Opportunity cost
the benefit of the next most desired option which is given up
6 of 9
Entrepreneur
someone who takes financial risk of starting and managing a new venture
7 of 9
Social enterprise
businesses with mainly social objectives that reinvests most of its profit into benefiting the society rather than maximising returns to owners
8 of 9
Tripple bottom line
The 3 objectives of social enterprise: environment, social, economic
9 of 9
Other cards in this set
Card 2
Front
non-tangible products sold to the general public such as insurance service, hotel accommodation, train journey
Back
Capital services
Card 3
Front
physical goods used by the industry to aid in the production of other goods, services like machines, commercial vehicles
Back
Card 4
Front
increase the difference between material's costs and selling price
Back
Card 5
Front
difference between material's cost and selling price
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