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Question		Answer
Mission Statement start learning		A statement of the organization's purpose - what it wants to accomplish in the larger environment. Vison or overall goal of the organization.
Aims start learning		A goal the business sets for itself in order to measure how successful it is
Objectives start learning		More specific goals of the business derived from the aims.
Strategies start learning		Plans of action for achieving goals and objectives. How.
Private sector organisations start learning		businesses owned by individuals
Public sector organisations start learning		Businesses owned by the government.
Ethics start learning		Business Morals
(smart) S=? start learning		specific
(smart) M=? start learning		measurable
(smart) A=? start learning		attainable
(smart) R=? start learning		realistic
(smart) T=? start learning		timely
Profit start learning		Total Revenue - Total Cost
Financial Gain start learning		Ganancia financiera
Total Revenue start learning		Quantity x Price
Total Costs start learning		Fixed costs + Variable costs
Fixed costs start learning		Costs that do not vary with the quantity of output produced
Variable costs start learning		costs that vary with the quantity of output produced
Loans start learning		a sum of money borrowed that is expected to be paid back with interest.
cost start learning		An expense paid to run a buisness
limited liability start learning		A form of business ownership in which the owners are liable only up to the amount of their individual investments.
unlimited liability start learning		The owner is personally and fully responsible for all losses and debts of the business. May have to sell personal possessions.
Consumers start learning		People who buy and use goods and services.
labour start learning		productive work done for wages
Entrepreneur start learning		A person who starts up and takes on the risk of a business
Stakeholders start learning		All the people who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address.
market start learning		a group of buyers and sellers of a particular good or service
Niche start learning		a small specialized market with specific needs
Marketing start learning		any paid form of non-personal presentation and promotion of goods or services by an identified sponsor
Brand Image start learning		The consumers' beliefs about the company and/or its goods or services often in terms of quality, price, value and ethics
Market Share start learning		the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself
Supply start learning		The quantity of something that is available for sale
Demand start learning		Consumer willingness and ability to buy products
multiplier effect start learning		An effect in economics in which an increase/decrease in spending produces an increase/decrease in national income and consumption greater/lesser.

Glossary

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