Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/18

Click to flip

18 Cards in this Set

  • Front
  • Back
Business
Any activity that makes money by providing goods and services.
Profit
Amount business earns after expenses and salaries are deducted.
Entreprenuer
Person who risks time and money to start a business.
Standard of Living
Amounts of goods and services people can buy with the money they have.
Quality of Life
General well being of society
Nonprofit Organization
Organization who's goal isn't to make a profit.
Revenue
1. total amount of money a business earns in a given period by selling goods and services.

2. Value of what is recieved for goods sold.
Loss
When a business costs and expenses are more than it's revenues.
Risk
1. Chance, degree of probability and amount of possible loss.

2. Chance an entreprenuer takes of losing time and money.
Factors of Production
the resources used to create wealth: land, labor, capital, entrepreneurship, and knowledge.
Return on Investment
The return a business person gets on the money he/she and other owners invest in the firm.

ex: a business eaned $100, and a business person invest $1000, so the ROI = 10% (100/1000)
E-commerce
electronic commerce; the buying & selling of products and services over the internet
Stakeholders
Those people who stand to gain or lose by the policies and activities of an organization.
Empowerment
Giving employees the authority and responsibility to repond quickly to customer requests.
Demography
the statistical study of human population to learn its size, density, etc.
Productivity
the total output of goods and services in a given period of time divided by work hours. (output per work hr)
Goods
products that are available to customers to buy.
Services
actions companies do to assist their customers.