Chapter 1

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Business
commencer à apprendre
organisation that produces goods or services
Organisation
commencer à apprendre
group that has formed for a particular purpose
Goods
commencer à apprendre
physical products
Services
physical products
commencer à apprendre
non
Output
commencer à apprendre
the amount of goods or work produced
Human resources
commencer à apprendre
the department that deals with the employing, training and helping people
Consumer goods
commencer à apprendre
goods and services sold to ordinary people rather than businesses
Producer goods
commencer à apprendre
goods or services produced by one business for another
Needs
commencer à apprendre
basic requirements for human survival
Wants
commencer à apprendre
people’s desire for goods and services
Tool
commencer à apprendre
a piece of equipment that is useful for doing your job
Premises
commencer à apprendre
buildings and land used by a business
Infinite
commencer à apprendre
limitless
Finite
commencer à apprendre
limited
Scarce
commencer à apprendre
resources with limited ability
Private sector
commencer à apprendre
businesses owned by individuals or groups of individuals
Public sector
commencer à apprendre
businesses owned by central or local governments
Stakeholder
commencer à apprendre
individual o group interested in the operations of a business
Entrepreneur
commencer à apprendre
person who takes risks and sets up businesses; individual who risks their own money on business ventures and organises other factors of production
Dispute
commencer à apprendre
serious disagreement or argument
Motivate
commencer à apprendre
encourage someone to do something
Machinery
commencer à apprendre
equipment with moving parts that uses power, such as electricity, to do a particular job
EBITDA
commencer à apprendre
earning before interest, tax, depreciation and amortisation

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