| A | B |
|---|
| container ships | these ships have facilitated an increase in globaliaition |
| entrepreneur | name of person who comes up with idea and prepared to take risk of making product or service in business |
| makes own decisions and takes all profits | advantages of being an entrepreneur |
| hard work and no income if off sick | disadvantages of being an entrepreneur |
| factors of production | collective name of resources required to make a product or provide a service |
| labour | factor of production that involves human skill, effort and ideas |
| land | factor of production such as sea, forestry or farms |
| capital | factor of production that involves machines required to make product or service |
| oven, fridge or coffee machie | an example of capital equipment required to run a restaurant |
| chef, waitress or cleaner | an example of labour required to run a restaurant |
| skill | a term that describes an ability that has been developed through training or experience. |
| skills associated with entrepreneurship | problem solving, leadership and motivation are all what ? |
| quality | a term to describe the nature or personality of an individual. |
| qualities associated with being an entrepreneur | enthusiasm, risk-taking and confidence are all ? |
| business | is an individual or organisation that makes goods or provides services for a price |
| globalisation | the process of increased connection between countries. It is demonstrated through economics, politics and culture |
| internet | communication factor that has promoted globalisation |
| low income countries | category of countries who provide a source of low income production in globalisation process |
| innovation | the introduction of new ideas that result in the improvement of existing goods and services |
| invention | the discovery of something that has never been made before |
| China | which country invented gunpowder |
| branding | promotion of a particular product or company by means of advertising and distinctive design |
| marketing | The action or business of promoting and selling products or service |
| cashflow | he money coming into the business from all sources (e.g. sales, interest payments and royalties) and out of the business (e.g. bills) |
| capital | money available for a purpose such as starting a company |
| business plan | document setting out what the business does at present, plus what it intends to achieve in the future and how this will be accomplished. The plan will include marketing and financial plans |
| ethics | moral principles and social values a business should display in it s code of conduct |
| packaging | wrapping material around a consumer item that serves to contain, identify, describe, protect, promote and otherwise make the product marketable and keep it clean |
| ecommerce | ability to buy and sell goods on-line |
| teleworking | using information technology to allow you to work remotely away from your place of work |
| teleconferencing | using telecommunications to have a meetings between several persons in remote locations |
| hotdesking | term that desribes multiple workers using a single work station during different time periods |
