1
Q
Value added
A
The difference between the price of the product and the cost of raw materials.
2
Q
Capital goods
A
The physical goods used by industry to aid in the production of other goods and services.
3
Q
Opportunity cost
A
The lost of the potential gain from other alternatives when one alternative is chosen. `
4
Q
Entrepreneur
A
Someone who takes financial risk when starting a new venture. They will be the risk taker, decision maker and coordinator.
5
Q
Triple bottom line
A
The 3 objectives of a social enterprises which are economic, social and environmental.
BS
flashcards
Decks in class (18)
# Cards
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1.1 Enterprise5
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1.2 Business Structure16
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1.3 Size of a business5
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1.4 Business Objectives3
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1.5 Stakeholders1
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2.1 Management and Leadership2
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2.2 Motivation6
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2.3 Human Resource Management16
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3.1 What is marketing?17
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3.2 Market Research9
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3.3 Marketing Mix1
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4.1 Nature of operations6
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4.2 Operations Planning10
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4.3 Inventory Management3
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5.1 Business Finance6
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5.2 Cost7
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5.3 Accounting Fundamentals9
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5.4 Forecasting and Managing cash flows10
