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BUSINESS BAP064Introduction to Business Summary
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62
October 2021
2021/2022
1. Describe the relationship between profit and risk, and show how
businesses and nonprofit organizations can raise the standard of
living for all.
A business is any activity that seeks to provide goods and services to others while operating at a
profit.
Goods are tangible products such as computers, food, clothing etc. and services are intangible
products such as education.
An entrepreneur is a person who risks time and money to start and manage a business.
Revenue is the total amount o...
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