BUSN115

Card Set Information

Author:
sacredeye73
ID:
16709
Filename:
BUSN115
Updated:
2010-04-28 21:18:02
Tags:
Understanding Business Chapters one two
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Description:
ch 1 and 2
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  1. goods
    Tangible products such as computers, food, clothing, appliances, and cars
  2. services
    intangible products such as education, healthcare, insurance, travel, and tourism
  3. business
    any activity that seeks to provide goods and services to others while operating at a profit
  4. entrepreneur
    a person who risks time and money to start and manage a business.
  5. revenue
    the total amount of money a business takes in during a given period by selling goods and services
  6. profit
    the amount of money a business earns above and beyond what it spends for salaries and other expenses
  7. loss
    when a businesses expenses are more than its revenues
  8. risk

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