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Business test 1
business test 1
19
Advertising
Undergraduate 3
02/06/2013

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Term
Business
Definition
is any activity that seeks to provide goods and services to others while operating at a profit
Term
Goods
Definition
are tangible products such as computers, food, clothing
Term
services
Definition
are intangible products education, health care, insurance
Term
revenue
Definition
is the total amount of money a business takes in during or given period of time by selling goods and services
Term
profit
Definition
above the amount
Term
loss
Definition
below the amount
Term
risk
Definition
the chance on entrepreneur take of losing time & money on a business that may not prove profitable- more risk more profit
Term
standard of living
Definition
the amount of goods and services people can buy with the money they have

the u.s. has the highest because of cheaper products and less expenses compared to other countries
Term
quality of life
Definition
general well-being of a society in terms of its political freedom, natural environment, education, health care
Term
stakeholder
Definition
all the people who stand to gain or lose by the polices and activities of a business and shose concerns the business needs to address
Term
outsourcing
Definition
means contracting with other companies to do some or all the functions of a firm, like production or accounting tasks
Term
non profit organization
Definition
is whos goals do no include making a personal profit for its owners or organization
Term
factors of production
Definition
1 land
2 labor
3 capital
4 entrepreneurship
5 knowledge
Term
Business environment
Definition
1 the economic and legal environment
2 the technological environment
3the competitive environment
4 the social environment
5 the global business environment
Term
Business environment
Definition
1 the economic and legal environment
2 the technological environment
3the competitive environment
4 the social environment
5 the global business environment
Term
e-commerce
Definition
is the buying and selling of goods and services over the internet
b2c- business to customer
b2b- business to business
Term
Database
Definition
collection of a history of purchased goods in a storage file electronically
Term
database
Definition
collection of a history of purchased goods in a storage file electronically
Term
demography
Definition
the statistical study of the human population. size density age race gender
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