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20 Cards in this Set
- Front
- Back
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Business
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Any activity that seeks to provide goods and services to others while operating at a profit
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Profit
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The amount of money a business earns above and beyond what it spends for salaries and other expenses
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Entrepreneur
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A person who risks time and money to start and manage a business
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Revenue
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The total amount of money a business takes in during a given period by selling goods and services
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Loss
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When a business's expenses are more than its revenues
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Risk
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The chance an entrepreneur takes of losing time and money on a business that may not prove profitable.
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Standard of Living
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The amount of goods and services people can buy with the money the have.
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Quality of Life
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The general well-being of a society in terms of anything that leads to satisfaction and joy.
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Stakeholders
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All the people who stand to gain or lose by the policies and activities of a business
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Nonprofit Organization
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An organization whose goals do not include making a personal profit for its owners or organizers
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Factors of Production
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The resources used to create wealth; land, labor, capital, entrepeneurship, and knowledge
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Business Environment
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The surrounding factors that either help or hinder the developement of business
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Technology
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Everything that makes business processes more efficient and productive
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Productivity
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The amount of output you generate given the amount of input
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E-Commerce
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The buying and selling of goods over the Internet
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Database
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An electronic storage file where information is kept
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Empowerment
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Giving frontline workers the responsibility, authority, and freedom to respond quickly to customer requests
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Demography
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The statistical study of the human population with regard to its size, density, and other characteristics such as age, race, gender and income
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Goods
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Tangible products
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Services
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Intangible products
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