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term three glossory


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entrepreneur
a person with a idea who then invests in , organises and runs a buisness
SMME
small, medium or micro enterprises, in other words a small buisness
innovation
a new way or idea of doing something
herbalist
person who sells, grows or uses herbs for edical purpose
outsource
when you outsource parts of your work , you give them to another person or businessto do
market research
involves asking your target market what they want,this helps you to decide what good or service to provide
competitors
businesses that offer the same good or service as you do in the same area
profit
when a business sells a god or service for more than it costs to make it and sell it
target market
a group of customers that a business aims its product at
SWOT analysis
a businesses STRENGHTS, WEAKNESSES, OPPORTUNITIES and THREATS
SMART business goals
SPECIFIC, MESUREABLE ,ACHIEVABLE , REALISTIC AND TIME BOUND . Will help your businness succeed
mass media
advertising that targets and reaches large numbers of people
recycled
to treat something that has already been used , so that it can be used again
sustainable
to use natural or recycled products in such a way that it doesnt harm the enviroment
fixed costs
costs that do not change ,no matter how many goods are prodused
variable costs
costs that do change according to how many goods produced
selling price
the price that a business sells its goods for
mark up
the costs that you add to a goods cost to make a profit
socio economic imbalance
imbalaces in peoples access to resourse such as housing health education and decent stardard of living
stardard of living
peoples acess to things such as goods and sevices that make life more comfortable
sanitation
toilet facilities