Term
| What is any activity that seeks to provide goods and services to others while operating at a profit? |
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Definition
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Term
| What are tangible products such as computers, food, clothing, cars, and appliances? |
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Term
| What are intangible products such as education, health care, insurance, recreation, and travel and tourism? |
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Definition
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Term
| Who is a person who risks time and money to start and manage a business? |
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Definition
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Term
| What is the total amount of money a business takes in during a given period by selling goods and services? |
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Definition
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Term
| What is the amount of money a business earns above and beyond what it spends for salaries and other expenses? |
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Term
| What occurs when a business's expenses are more than its revenues? |
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Definition
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Term
| What's the chance an entrepreneur takes of losing time and money on a business that may not prove profitable? |
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Term
| What is the amount of goods and services people can buy with the money they have? |
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Term
| What is 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 the other goods and services provide? |
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Definition
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Term
| Who are 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? |
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Definition
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Term
| What is contracting with companies (often in other countries) to do some or all functions of a firm? |
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Term
| What are foreign companies that make businesses in the United States? |
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Definition
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Term
| What is an organization whose goals do not include making a personal profit for its owners or organizers? |
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Definition
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Term
| What are the resources used to create wealth (land, labor, capital, entrepreneurship, and knowledge)? |
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Definition
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Term
| What are the 5 factors of production? |
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Definition
| Land, labor, capital, entrepreneurship, and knowledge |
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Term
| What factor of production includes machines, tools, and buildings? |
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Definition
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Term
| What is the surrounding factors that either help or hinder the development of businesses? |
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Definition
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Term
| What are the 5 elements in the business environment? |
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Definition
| Economic/legal, technological, competitive, social, and the global business environment |
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Term
| What business environment includes freedom of ownership, contract laws, elimination of corruption, tradeable currency, and minimum taxes and regulations? |
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Definition
| Economic or legal environment |
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Term
| What business environment includes information technology, databases, bar codes, and the internet? |
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Definition
| Technological environment |
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Term
| What business environment includes customer service, stakeholder recognition, employee service, and concern for the environment? |
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Definition
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Term
| What business environment includes diversity, demographic changes, and family changes? |
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Definition
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Term
| What is everything from phones to computers, mobile devices, medical imaging machines, robots, the internet, social media, and the various software programs, and business processes more effective, efficient, and productive? |
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Definition
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Term
| What means producing the desired result? |
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Definition
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Term
| What refers to reusing, redistributing, refurbishing, and recycling products instead of dumping them in landfills? |
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Definition
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Term
| What is the amount of output you generate given the amount of input? |
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Definition
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Term
| What means producing goods and services using the least amount of resources? |
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Definition
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Term
| What is the buying and selling of goods on the internet? |
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Definition
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Term
| What are the 2 types of e-commerce transactions? |
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Definition
| Business to consumer and business to business |
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Term
| What is an electronic storage file for information? |
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Definition
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Term
| What is the obtaining of individuals' personal information, such as Social Security and credit card numbers, for illegal purposes? |
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Definition
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Term
| What is giving frontline workers the responsibility, authority, freedom, training, and equipment they need to respond quickly to customer requests? |
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Definition
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Term
| What is the statistical study of human population with regards to its size, density, and other characteristics such as age, race, gender, and income? |
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Definition
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Term
| What means having a voice that is heard? |
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Definition
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Term
| What is about feeling a part of community? |
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Definition
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Term
| What is another name for world trade? |
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Definition
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Term
| What is the movement of the temperature of the planet up or down over time? |
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Definition
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Term
| What is the trend toward saving energy and producing products that cause less harm to the environment? |
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Definition
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Term
| What includes employee knowledge and skills that can be used to create new products, attract new customers, and increase profits? |
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Definition
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