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,Comprehensive Business and Economics Review for Independent Learners.pdf Comprehensive Business and Economics Review for Independent Learners.pdf Comprehensive Business and Economics Review for Independent Learners.pdf
Comprehensive Business and Economics Review for Independent Learners
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Terms in this set (228)
Business Any activity seeking to provide
goods/services to others while earning a
profit.
Profit Revenue minus expenses. The reward for
risk-taking.
Comprehensive Business and Economics Review for Independent Learners Comprehensive Business and Economics Review for Independent Learners.pdf Comprehensive Business and Economics Review for Independent Learners.pdf
,Comprehensive Business and Economics Review for Independent Learners.pdf Comprehensive Business and Economics Review for Independent Learners.pdf Comprehensive Business and Economics Review for Independent Learners.pdf
Revenue Total money a business takes in from selling
goods and services.
Loss When expenses exceed revenues.
Risk The chance of losing time and money on a
venture that may not succeed.
Stakeholders All who gain or lose by a business's
activities — customers, employees,
stockholders, suppliers, community.
Entrepreneur Person who risks time and money to start
and manage a business.
Standard of living The amount of goods/services people can
buy with their income.
Comprehensive Business and Economics Review for Independent Learners Comprehensive Business and Economics Review for Independent Learners.pdf Comprehensive Business and Economics Review for Independent Learners.pdf
, Comprehensive Business and Economics Review for Independent Learners.pdf Comprehensive Business and Economics Review for Independent Learners.pdf Comprehensive Business and Economics Review for Independent Learners.pdf
Quality of life Broader well-being — freedoms,
environment, health, education, safety.
Outsourcing Contracting work to other firms (often
overseas).
Insourcing Foreign firms operating in the U.S.
E-commerce Online buying and selling.
B2B Business-to-business.
B2C Business-to-consumer.
Economics Study of how society uses scarce resources
to produce and distribute goods/services.
Comprehensive Business and Economics Review for Independent Learners Comprehensive Business and Economics Review for Independent Learners.pdf Comprehensive Business and Economics Review for Independent Learners.pdf