Business Quiz 1 Flashcards
Business
The practice of making one’s living by engaging in commerce
Demographics
Statistical data relating to the population and particular groups within it.
E-commerce
Commercial transactions conducted electronically on the internet.
Entrepreneur
A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
Factors of production
The inputs that are used in the production of goods or services in order to make an economic profit
Loss
An amount of money lost by a business or organization.
Non-profit
Not making or conducted primarily to make a profit
Outsource
Obtain from an outside or foreign supplier, especially in place of an internal source.
Productivity
The effectiveness of productive effort, especially in industry, as measured in terms of the rate of output per unit of input.
Profit
A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
Revenue
Income
Risk
Risk is the chance that macroeconomic conditions like exchange rates, government regulation, or political stability will affect an investment, usually one in a foreign country.
Service
When a service such as labor is performed the buyer does not take exclusive ownership of that which is purchased, unless agreed upon by buyer and seller.
Stakeholder
Stakeholders can affect or be affected by the organizations actions, objectives and policies. .
Technology
Technology is the collection of techniques, skills, methods and processes used in the production of goods or services or in the accomplishment or objectives, such as scientific investigation.
