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15 Cards in this Set
- Front
- Back
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Organization that strives for a profit by providing goods and services desired by its customers
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Business
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tangible items manufactured by businesses
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Goods
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intangible offerings of businesses that can't be held, touched or stored
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services
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A country's output of goods and services that people can buy with the money they have
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Standard of Living
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the general level of human happiness based on such things such as life expectancy, educational standards, health, sanitation and leisure time
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Quality of Life
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The potential to lose time and money or otherwise not be able to accomplish an organization's goals
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Risk
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the money a company recieves by providing services or selling goods to customers
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Revenue
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expenses incurred from creating and selling goods and services
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Costs
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the money left over after all costs are paid
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Profit
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an organizatoin that exists to achieve some goal other than the usual business goal of profit
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Not-For-Profit Organization
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the resources used to create goods and services
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factors of production
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the inputs, such as tools, machinery, equipment and buildings, used to produce goods and get them to the consumer
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capital
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people who combine the inputs of natural resources, labor, and capital to produce goods or services with the intention of making a profit or accomplishing a not for profit goal
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entrepreneurs
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the combined talents and skills of the workforce
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knowledge
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workers who create distribute and apply knowledge
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knowledge workers
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