GCSE BUSINESS - Topic 1.1 Keywords

7. The rate at which prices are increasing. For example, if inflation is 2 per cent, prices are generally growing by 2 per cent that year
9. The ability to be an entrepreneur – to take risks to develop a business idea
10. The money paid by banks as a reward to attract people to save with them
12. Another word for a business. It also refers to the skills of the people involved in the business to identify business opportunities and bring together resources to meet these opportunities.
13. Someone who buys a product from a business

1. It measures all the income earned in a country’s economy in a year.
2. A business that is set up to help society rather than to make a profit
3. Someone who uses goods and services produced by businesses
4. Someone who is willing to take the risks involved in starting a new business
5. A physical product, such as a car
6. The cost of borrowing money or the reward for saving money, expressed as a percentage
8. An intangible product (that is, you cannot touch it), such as financial advice or a bus journey
11. The inputs that businesses use to provide their goods or services