What are pressure groups?
Organisations formed to put forward a particular viewpoint, such as promoting organic farming.
What are stakeholders?
All those groups with an interest in the success or failure of a business.
E-commerce
selling online rather than in a physical one-to-one transaction. An important part of e-commerce is m-commerce, meaning commerce using apps/smartphones rather than websites/PCs.
Social media
interactive channels of communication, via words, photos or videos, such as blogs, Facebook and Instagram.
Digital communication
messages or conversations conducted via email, text or social media.
Payment systems
ways of paying electronically such as PayPal.
Consumer law
acts of parliament that are intended to protect customers from misleading or dangerous practices by companies.
Consumer rights
laws that empower the consumer to demand certain minimum standards from every business supplier.
Legislation
laws passed by acts of parliament; breaking these laws may result in a fine or even a prison sentence.
Red tape
the term given to laws that (some people say) tie the hands of businesspeople, making it hard to act entrepreneurially.
Consumer spending
the total spent by all shoppers throughout the country.
Exports
goods produced in one country but sold overseas, for example a British-made Mini sold in France.
Consumer incomes
the amount households have available to spend after income taxes have been deducted.
Economic climate
like the weather, the economy can run cold or hot; the economic climate is a measurement of the current economic outlook, which might be promising or worrying.
Exchange rate
the value of one currency measured by how much it will buy of other currencies.
Inflation
the rate of increase in the average price level.
Interest rate
the annual cost of a loan to the borrower.
Taxation
charges placed by government on goods, imported goods and the incomes of individuals and companies.
Unemployment
when someone of working age wants a job but cannot get one.
Economic climate
like the weather, the economy
can run cold or hot; the economic climate is a
measurement of the current economic outlook,
which might be promising or worrying.
