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The ‘external environment’ is the combination of factors that occur outside of the business. These include: political, economical, social, technological, legal and environmental factors. In terms of the e...
Organic growth is when a business is using its profits to expand naturally, without needing to turn to external forms of investment such as a bank loan.
Customer Service is a service given to customers before, during and after purchase to a standard thats meets customer needs. An example of good customer service is offerering advice pre sales, this would ...
The supply is the amount that sellers are willing and able to pay at different prices. The price is positively related to the quantity asked for the good. The supply curve is a graph of the relationship b...
A competitive market is a market characterized by many buyers and many seller. The products sold by different producrs are homogeneous (similar) and therefore the buyers are "price takers": they...
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