business

Products whose sales are sensitive to changes in consumers incomes.

• Income Elastic Products

• Consumer Spending

• Services

• Fair Trade Products

The act of buying or selling a product using an electronic system like the internet

• E-commerce

• M-commerce

• Webchat

• Extranets

An approach to managing businesses in which the interest of all groups in society are taken into account when making decisions

• Social Responsibility

• Ethics

• Environmental responsibility

• Recycling

Describes the state of key factors within a country such as the level of goods and services produced and the number of jobs available

• Economic Climate

• Interest Rates

• Overdraft

• Consumer Spending

The value of goods and services bought by consumers over a time period

• Economic Climate

• Interest Rates

• Overdraft

• Consumer Spending

The cost of borrowing money or the reward for saving money expressed as a percentage

• Economic Climate

• Interest Rates

• Overdraft

• Consumer Spending

Selling goods and services across national borders

• International Trade

• Multinational Company

• Imports

• Exports

How satisfied a consumer is with a product

• Quality

• Product Design

• Price

• Profit

When a business does not face any competition in a particular market

• Monopoly

• Uncertainty

• Recession

• Entrepreneur

A group of workers who act together to improve their pay and working conditions

• Trade Union

• Part Time Employee

• Consumer Laws

• Discrimination