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Business

People in Business

QuestionAnswer
Stakeholders The people who play a part in the operation of the business and are affected by its decisions called stakeholders
Entrepreneur An entrepreneur is a person who uses initiative to bring together all the resources needed to set up a business, and bears the risk of loss of it should fail.
Investors A person who gives capital to the entrepreneur to set up and run their business in exchange for a return on investment
Producers Combine the use of machinery, labour, finance to transform raw materials into a finished product to sell to consumers.
Suppliers Supply the raw materials and machinery required for production to producers.
Employers Hire employees to provide goods or supply services. They reward employees with wages.
Employees Work for employers in the production of goods and services, they get wages in return for this.
Consumer They are the people for whom the goods or services are provided . Without consumers there would be no business
Government The government is a stakeholder in business on behalf of the general public
Created by: annamargey