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business essentials
business essentials
5
Business
Undergraduate 1
04/01/2012
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Term
standard of living
 Definition
refers to the total quantity of goods and services that people living in an economic system can purchase
Term
profits
 Definition
the differences between revenues and expenses
Term
business
 Definition
organization that provides goods or services to earn profits.
Term
external environment
 Definition
everything outside an organization's boundaries that might affect it
Term
domestic business environment
 Definition
the environment in which a firm conducts its operations and derives its revinues.
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