SUBUS100

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Anonymous
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190493
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SUBUS100
Updated:
2012-12-22 22:55:35
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SUBUS100
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Terms for Business 100
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  1. Value
    The relationship between the price of a good or a service and the benefits that it offers its customers. (Chapter 1, page 3)
  2. Business
    Any activity that provides goods and services in an effort to earn a profit.  (Chapter 1, page 3)
  3. Profit
    The money that a business earns in sale (or revenue) minues expenses, such as the cost of goods, and the cost of salaries.

    Revenue - Expenses = Profit (or loss)

    (Chapter 1, page 3)
  4. Loss
    When a business incurs expenses that are greater than its revenue. (Chapter 1, page 3)
  5. Entrepeneurs
    People who rish their time, money, and other resources to start and manage a business.  (Chapter 1, page 3)

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