Business 10

• First impression
• Good Grooming
• On time
• Considerate
• Netiquette
• Cell Phone
• Be prepared

• Attend Class
• Listen to professor
• Take notes
• Quiet study place
• Read material
• Use study guide
• Flashcards
• Use Online learning center
• Review old exams
• Use all senses

• Self analysis
• Work you enjoy
• Network
• Internet
• Resume
• Interview Skills
• Follow-up

• Minimize tax and regulations
• Freedom of ownership
• Contract laws
• Tradable currency
• Elimination/Minimization of corruption

Demography is the statistical study of the human population with regard to its size, density, and other characteristics such as age, race, gender, and income.

the total amount of money a business takes in during a given period by selling goods and services

the amount of money a business earns above and beyond what it spends for salaries and other expenses needed to run the operation.

Allowing workers to make other decisions essential to producing high-quality goods and services.

contracting with other companies to do some or all the functions of a firm.

Setting up design and production facilities in the US. (Book definition.... Clarify disagreement with professor.)

tangible products such as computers, food, clothing, cars, and appliances.

intangible roducts (i.e., products that can't be held in your hand) such as education, health care, insurance, recreation, and travel and tourism.

any activity that seeks to provide goods and services to others while operating at a profit.

A person who risks time and money to start and manage a business.

When a business' expenses are more than its revenues.

The chance an entrepreneur takes of losing time and money on a business that may not prove profitable.

The amount of goods and services people can buy with the money they have

The general well-being of a society in terms of its political freedom, natural environment, education, health care, safety, amount of leisure, and rewards that add to the satisfaction and joy that other goods and services provide.

All the people who stand to gain or loss by the policies and activities of a business and whose concerns the business needs to address.

An organization whose goals do not include making a personal profit for its owners or organizers.

Revenue is the total amount of money a business earns during a certain time frame. Profit is the amount of money a business earns, after paying the cost of running the business; expenses, salaries, etc.

Standard of Living is the relationship between ones' salary and cost of purchasing goods and services. Quality of Life is the overall freedom gained by being financially well-off.

Risk is the gamble of losing time and money on a business that may not turn profit.

• Stakeholders are all the people who may gain or lose off a business' choices.
• Outsourcing is contracting out tasks/jobs to an outside vendor, City, or Country.
• Insourcing is having direct ownership of tasks/jobs within ones' own company, City, or Country.

The resources used to create wealth: land, labor, capital, entrepreneurship, and knowledge.