Introduction to Business

Functions of a business Roles of the state Stakeholders definition Non-Durable products

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  • Created by: Millie
  • Created on: 29-09-13 14:34
What are the functions of a business?
Marketing, Finance, Production, Human Resources.
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Definition of a Stakeholder:
Somebody who has an interest in a business.
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Non-Durable goods
Products that cannot be used more than once.
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Durable goods
Products that can be used more than once.
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What is the role of the state?
Consumer, Supplier, Economic Regulator, Legal Regulator.
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What are the four factors of production? (Inputs)
Land, Labour, Capital/Machinery, Enterprise.
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What are the other functions of a business?
Business as an employer, a source of revenue (income), helping the balance of payments.
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Other cards in this set

Card 2

Front

Definition of a Stakeholder:

Back

Somebody who has an interest in a business.

Card 3

Front

Non-Durable goods

Back

Preview of the front of card 3

Card 4

Front

Durable goods

Back

Preview of the front of card 4

Card 5

Front

What is the role of the state?

Back

Preview of the front of card 5
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