Introduction to Business Final Exam With all complete solutions

Introduction to Business Final Exam With all complete solutions Any activity that seeks to provide goods and services to others while operating at a profit. Tangible products such as computers, food, clothing, cars, and appliances. Intangible products such as education, health care, insurance, recreation, and travel and tourism. A person who risks time and money to start and manage a business. The total amount of money a business takes in during a given period by selling goods and services. The amount of money a business earns above and beyond what it spends for salaries and other expenses. When a business's expenses are more than its revenues. The chance an entrepreneur takes of losing time and money on a business that may not prove profitable. The amount of goods and services people can buy with the money they have. The general well-being of a society in terms of its political freedom, natural environment, education, health care, safety, amount of leisure, and rewards that add to the satisfaction and joy that other goods and services provide. All the people who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address. Contracting with other companies to do some or all of the functions of a firm, like its production or accounting tasks. An organization whose goals do not include making a personal profit for its owners or organizers. The resources used to create wealth: land, labor, capital, entrepreneurship, and knowledge. The surrounding factors that either help or hinder the development of a business.