Business A Level Study Guide Graded A+

demographic segmentation {Ans: dividing the market by age, income, and education level}Primary Sector {Ans: The portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture, although sometimes by mining, fishing, and forestry.}market saturation {Ans: Occurs when most consumers already own the product and the market is not or can't grow}Secondary Sector {Ans: The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials.}local market {Ans: suppliers within close proximity to the buyer}Quantitative data {Ans: Numerical data that can be graphed}Oligopoly {Ans: A market structure in which a few large firms dominate a market}Good {Ans: a tangible item that people want and for which they will pay}Seasonal Market {Ans: A market that is affected by weather, time of year, or holidays}B2C {Ans: business to customer}Percentage of Businesses that are SMEs {Ans: 99.3%}Marketing Mix {Ans: Product, Price, Place, Promotion, Process, People, Physical Evidence}Enterprise {Ans: Another Term for a Business}plc (public limited company) {Ans: a company whose shares can be traded on the stock market.}Income Elasticity {Ans: }What is a business plan? {Ans: a