Question 1

an organisation which produces goods and/or services.

Accepted Answer

business

Question 2

goods and/or services sold to ordinary people (consumers) rather than business.

Accepted Answer

consumer goods

Question 3

people who take risks and set up businesses.

Accepted Answer

entrepreneur

Question 4

physical products like a mobile phone, packet of crisps or a pair of shoes.

Accepted Answer

goods

Question 5

basic requirements for human survival.

Accepted Answer

needs

Question 6

business organisations owned by individuals or groups of individuals.

Accepted Answer

private sector

Question 7

goods and/or services produced by one business for another.

Accepted Answer

producer goods

Question 8

business organisations owned by central or local government.

Accepted Answer

public sector

Question 9

the amount of resources available is limited.

Accepted Answer

scarce resources

Question 10

non-physical products like banking, car washing, and waste disposal.

Accepted Answer

services

Question 11

an individual or group with an interest in the operation of a business.

Accepted Answer

stakeholder

Question 12

peoples' desires for goods and services.

Accepted Answer

wants

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