Business Knowledge

What is business “Demand”?

• Demand is the quantity of a good or service that consumers and businesses are willing and able to buy at a given price in a given time period

• Demand is being able to meet what your customers want when they want it.

• Demand is an insistent request made as of right

What does “economic climate” mean?

• Economic climate is the availability if jobs in the current time in comparison to other times of the year

• The temperature of the world and how this is rising over time due to climate change

• Economic climate usually reflects the state of the jobs market, stock market, or the availability of credit.

In the world of business "Trends" are.....

What is primary data?

• Data collected from primary schools

• Data collected by primary researchers

• data that is collected by researchers directly from primary sources

What is secondary data?

• Data collected in secondary schools

• data that has already been collected through primary sources

• Data that has been collected by a second person

What is the legislation that protects personal information?

• Data Protection Act 2018

• General Data Protection Regulations 2018

• Protection of Data Act 2015