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Any activity that seeks to provide goods & services to others while operating at a profit
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The amount of money a business earns above and beyond what is spends for salaries and other expenses
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| A person who risks time and money to start and manage a business |
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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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| When a business's expenses are more than its revenues |
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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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| The amount of goods and services people can buy with the money they have |
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The general well-being of a society in terms of political freedom, a clean natural environment, education, health care, safety, free time, and everything else that leads to satisfaction and joy
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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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| Assigning various functions, such as accounting, production, security, maintenance, and legal work, to outside organizations |
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| An organization whose goals do not include making a personal profit of its owners or organizers |
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The resources used to create wealth: - land
- labor
- capital
- entrepreneurship
- knowledge
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| The surrounding factors that either help or hinder the development of businesses |
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| Everything from phones and copiers to computers, medical imaging devices, personal digital assistants, and the various software programs that make business processes more efficient and productive |
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| The amount of output you generate given the amount of input |
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| The buying and selling of goods and services over the internet |
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| An electronic storage file where information is kept; one use of databases is to store vast amounts of information about consumers |
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| The obtaining of private information about a person, such as SOcial Security number and/or credit card number, and using that information for illegal purposes, such as buying things with it |
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| Giving frontline workers the responsibility, authority, and freedom to respond quickly to customer requests |
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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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| Tangible products such as computers, food, clothing, cars, and appliances |
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| Intangible products (products that can't be held in your hand) such as education, health care, insurance, recreation, and travel and tourism |
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