13/1 Engineering and Manufacturing (Level 3) Objectives

Identify some key terms in the areas of business, commerce, and finance.

• Marketing, Investment, Revenue

• Photosynthesis, Ecosystem, Biodiversity

• Mitosis, Meiosis, DNA

• Gravity, Force, Motion

Broadly explain the concept of a 'stakeholder'.

• A stakeholder is a person or group with an interest or concern in something, especially a business.

• A stakeholder is a financial term referring to shareholders in a company.

• A stakeholder is a legal term for someone who holds property in trust for another.

• A stakeholder is a term used in sports to describe a referee or umpire.

Fill in the blank: A ______ is an organisation that provides goods and/or services in return for payment.

• Company

• Individual

• Charity

• Government

Fill in the blank: ______ are physical products that can be made or processed.

• Goods

• Services

• Ideas

• Information

Fill in the blank: ______ are products that are not physical, e.g., logistics, professional services (such as a doctor or lawyer), advice or support.

• Services

• Goods

• Materials

• Items

Fill in the blank: An ______ is the organisation or individual that employs an employee.

• Employer

• Employee

• Contractor

• Manager

Fill in the blank: An ______ is the person employed by the organisation or employer.

• Employee

• Employer

• Manager

• Contractor

________ is the amount of money a company receives minus its running/manufacturing costs.

• Profit

• Revenue

• Loss

• Expense

________ is a person who buys the company’s goods or services.

• Customer

• Supplier

• Employee

• Manager

________ refers to other companies providing the same goods or services.

• Competition

• Monopoly

• Collaboration

• Substitution