This means that the relationship in business is always changing.  A person may be an employee in the morning, a consumer at lunchtime and an…

An interest group is an organisation representing a particular body of people who have a common interest Interest groups promote and protect members interests Trade…

This is where firms supply services to businesses. These services include , Market research agencies, financial institutions, Accountants, Solicitors, Insurance companies, Employer and employee associations…

Producers are successful entrepreneurs who supply the market with finished and partly finished goods A producer can also be described as a supplier because he/she…

This is a person who purchases goods and services at a given agreed price as set out in the market A consumer aims to satisfy…

An employee is a person who works for an employer in return for a wage An employee carries out the essential tasks to make the…

Eventually, entrepreneurs will need to hire staff to help run the business, therefore they becomeemployers. An entrepreneur may not have the skills needed to run…

An investor is a person who gives the finance (capital) required for a business in exchange for a returnin that business. This is called equity…

Those setting up new businesses are called entrepreneurs They must take the initiative (identify a gap in the market) to set up a new good…