understanding the nature and purpose of business Flashcards
1
Q
what are businesses?
A
2
Q
what is the purpose of a business
A
3
Q
how do business contribute to society
A
4
Q
what do business do
A
5
Q
what the three business sectors
A
6
Q
Define:
-missions statement
-corporate objectives
-strategic aims
A
7
Q
the five common business objectives
A
8
Q
explain the relationship between cost, revenues, profit
A
9
Q
define stakes holders
A
10
Q
what are the 4 business costs
A
fixed cost, variable costs, total cost, average costs
11
Q
what is profit and what is the formula
A
12
Q
what is revenue and what is the formual
A
