ESRM 320 exam 2023 with 100% correct answers

Business - correct answerAny activity that provides goods and services for a profit while satisfying consumer wants and needs`` Goods vs services - correct answerTangible vs intangible products Entrepreneur - correct answerA person who risks time and money to start and manage a business Revenue - correct answer/Sales -- amount of money a business receives by selling goods/services Profit - correct answer/Net income/earnings -- total amount of money earned after expenses are subtracted from revenue -Found on the "bottom line" of an income statement Loss - correct answerWhen expensesrevenues Stockholder vs Stakeholder - correct answerStockholder: owns shares of stock in the company Stakeholder: everyone affected and who can affect an organization -- ie; customers, employees, suppliers, dealers, government, Earth, etc. Sustainability - correct answerMeeting the needs and wants of people today without compromising Earth's capacity to provide for future generations Triple bottom line - correct answerIntegrating environmental, social responsibility and financial/economic elements into sustainability in a company Nonprofit - correct answerAn organization whose goals do not include making a profit -- addresses other issues than profit