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11 Cards in this Set
- Front
- Back
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Is usually characterized by a financial goal, which is to earn profits. |
BUSINESS ENTERPRISE |
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Is the result of the total sales or total revenue less the total costs and expenses. |
PROFIT |
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Three Main Types of Business Enterprise |
1. MANUFACTURING 2. SERVICES 3. TRADE |
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Are categorized into different sectors, each of which gives rise to many possible businesses. |
THE PHILIPPINE ECONOMY |
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Income produced by a given source |
REVENUE |
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The result of giving up an item in exchange of something of value, such as money |
SALES |
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The amount paid or charged for something |
COST |
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The excess of revenue over expenses. It is also the excess of the selling price of goods over their cost |
PROFIT |
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The process of transforming raw materials into finished goods or products |
MANUFACTURING |
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The rendering of work for others, involving the skills and expertise of people |
SERVICES |
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Is the buying and then selling goods, without causing any major change in the form of the products |
TRADE |
