Intro Business: Chapter 1-3

Any activity that seeks to provide goods and services while operating at a proft

The amount of money a business earns above and beyond what it spends for salaries and other expenses Profit = revenue - expenses

A person who risks time and money to start a business

Money taken in from selling goods and services

When expenses are greater than revenue

Chance that you are going to lose time and money

All the people who stand to gain or lose by the policies and activities ofa business

Anyone who stands to gain or lose from a business

Causes more harm to the country than good for the company

Companies set up, design, and production facilities in the US

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

People who use business principles to manage nonprofits

Land, labor, capital, entrepreneurship

Surrounding factors that either help or hinder the development of businesses

Everything from phones and copiers to computers, medical imaging devices, personal digital assistants, and the various software programs that make business processes more effective, efficient, and productive