business quiz 01

FOCUS!! PLEASE DO NOT PLAY CLASH ROYALE

retailer

Sell procuct to the publicby purchasing goods from wholesalers or manufacturers. Retailers serve as the final link in the supply chain, making products available to consumers in various formats such as brick-and-mortar stores or online platforms.

distributers

Companies that supply products to retailers or direct customers, often managing logistics and inventory.

Franchisor

A business that grants the right to an individual or group to operate a branch of its operations, typically involving the use of its name, branding, and systems. (the one getting franchised)

franchisee

An individual or group that obtains the right to operate a franchise from a franchisor, using the franchisor's branding and systems. (the one operating the franchise)

Licensing

Allows conpany to use somthing from another business in echange for a fee

Subscription

Costumers pay continuously for service

Aggregator

A business model that collects data or services from various providers and presents them in one place for consumers.

Adviertising

Revenue from selling ad space on their website

Freemium

Free for basic Pay for upgrage

Profesional

customers pay for time for serices

Data Licences

Selling valuable data

Saas

Software distribution model where customers pay a recurring fee to access applications hosted online.

Utility and usage

Based on how much the servace is used

Razor blade model

main product should separately, but you have to keep buying a peice of the product

Greenwashing

Pretending to be eco Friendly

Deontology

The morality of rules

Utilitarianism

is the ethical philosophy that seeks the greatest good for the greatest number of

people.

Deontology

Sticking to the rules

Justice

Equality perspective

Carbon offset

Trying to lower carbon admissions

More export than import

Trade suplus

More import than export

Trade deficit

Embargo

Prohibits imprt and export

Input to your business

Land, labor, Entrepreneurship, knowlege, Capital

Land

materials and a location

Capial

Tools

Labor

Employees

Knowlage

what has to be known to start a business

Entrepreneurship

Decision makers

Demographics

Race, gender, height ,health

What happends to the price of a product when there is alot of it

Price drops

What hapends when a product is rare

Price goes up

6 Stages to start a business

Find the idea, Conduct market research, customers, Business model, Infrastructure, revenue

Find the idea

what do you want your business to be about

Conduct market recerch

the problem your business will solve in the market

Business model

How the business captures value.

Costomers

who will be buying your product

Infrastructure

The reacorces needed to make value

The revenue

The money that businesses take in order to keep running

Stockholders

Individuals or entities that own shares of stock in a corporation, giving them ownership rights.

Barriers of trade

Things that make trade difficult like Language, Distance, Tariffs, Embargos

Tariffs

Taxes on trade

World bank

Makes loans to developing nations

International monetary fund

Gives money the nations that are poor

World trade organization

An intergovernmental organization that regulates and facilitates international trade between nations by LOWERING TRADE BARRIERS

Export

Goods and services made from one country and sold to others

Import

Goods and services brought from other countries so you can use them.

order of responsibilities

The pyramid places Economic responsibilities as the base, followed by Legal, then

Ethical, with Philanthropic responsibilities at the top — the opposite order.

Corporate Social responsibility

concern for the welfare of society as a whole and for a wider range

of stakeholders, explicitly including employees, customers, society, the natural environment, and

investors.

Foreign Direct Investment (FDI

refers to a domestic firm builds and owns its own facilities in a

foreign country.

In Contract Manufacturing

the domestic firm retains its brand and design but

outsources manufacturing to a foreign firm; it does not own the foreign firm.

When a country has unique natural resources that any other country does not possess, this is called

Absolute advantage

Two companies from different countries pool resources and local knowledge to jointly build a new

facility. This is best described as:

Joint Venture

A shoe company keeps its brand and product design in domestic country but pays a factory in

Vietnam to manufacture its shoes. This is best described as

Contract Manufacturing

joint venture

A government sets a strict limit on the number of foreign cars that may be imported each year,

without banning imports altogether. This is an example of a:

quota