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Anna

In: Business and Management

Submitted By annmcnail
Words 336
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business

Any organization that provides goods and services in an effort to earn a profit.

business environment

The setting in which business operates. The five key components are: economic environment, competitive environment, technological environment, social environment, and global environment.

business technology

Any tools—especially computers, telecommunications, and other digital products—that businesses can use to become more efficient and effective.

demographics

The measurable characteristics of a population. Demographic factors include population size and density and specific traits such as age, gender, and race.

e-commerce

Business transactions conducted online, typically via the Internet.

entrepreneurs

People who risk their time, money, and other resources to start and manage a business.

factors of production

Four fundamental elements—natural resources, capital, human resources, and entrepreneurship—that businesses need to achieve their objectives.

free trade

An international economic and political movement designed to help goods and services flow more freely across international boundaries.

General Agreement on Tariffs and Trade (GATT)

An international trade agreement that has taken bold steps to lower tariffs and promote free trade worldwide.

loss

When a business incurs expenses that are greater than its revenue.

nonprofits

Business-like establishments that employ people and produce goods and services with the fundamental goal of contributing to the community rather than generating financial gain.

profit

The money that a business earns in sales (or revenue), minus expenses, such as the cost of goods, and the cost of salaries. Revenue—Expenses = Profit (or Loss).

quality of life

The overall sense of well-being experienced by either an individual

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