BUS 110 EXAM 1 MOST TESTED EXAM QUESTIONS WITH REVISED CORRECT ANSWERS A+ VERIFIED NEWEST VERSION

BUS 110 EXAM 1 MOST TESTED EXAM QUESTIONS WITH REVISED CORRECT ANSWERS A+ VERIFIED NEWEST VERSION Value - correct answers-relationship between the price of a good or service and the benefits it offers Business - correct answers-any organization or activity that provides goods and services to earn a profit Profit - correct answers-money that a business earns in sales or revenue minus expenses Loss - correct answers-Occurs when a business's expenses are more than its revenues Entrepenuer - correct answers-people who risk their time, money, and other resources to start and manage a business Standard of Living - correct answers-quantity and quality of goods and services available to an individual or society Quality of Life - correct answers-the overall sense of well-being experienced by either an individual or a group Non-Profits - correct answers-Business like establishments that employ people and produce goods and servies