Term
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Definition
| Any activity that seeks to provide goods and services to others while operating at a profit |
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Term
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Definition
| Tangible products such as computers, food, clothing, cars, and appliances |
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Term
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Definition
| Intangible products such as education, health care, |
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Term
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Definition
| A person who risks time and money to start a business by selling goods and services |
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Term
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Definition
| Money made from selling goods or services |
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Term
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Definition
| Profit = Revenue - Expenses |
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Term
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Definition
| When a business's expenses exceed revenue |
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Term
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Definition
| The possibility of losing money. |
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Term
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Definition
| The amount of goods and services people can buy with the money they have. |
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Term
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Definition
| The general well-being of a society in terms of it's 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. |
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Term
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Definition
| All the people who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address. |
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Term
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Definition
| Contracting with other companies to do some or all of the functions of a firm. |
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Term
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Definition
| An organization whose goals do not include making a personal profit for its owners or organizers. |
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Term
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Definition
Land (natural resources)
Labor
Capital
Entrepreneurship
Knowledge |
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Term
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Definition
| Surrounding factors that either help or hurt the development of a business. |
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Term
| 5 Elements of Business Environment |
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Definition
Economic and Legal
Technological
Competitive
Social
Global Business |
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