Fundamentals of Business Chapter 1
Terms
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- an organization that produces or distributes a good or service for profit
- business
- the difference between earned income and costs
- profit
- making a product or providing a service
- production
- businesses that produce goods
- manufacturing firms
- businesses that provide assistance to satisfy specialized needs through skilled workers
- service firms
- all money matters related to running a business
- finance
- the number of similar products that will be bought at a giben time at a given price
- demand
- the number of similar products that will be offered for sale at a particular time and at a particular price
- supply
- a business that produces goods used by other businesses or organizations to make things
- industrial business
- countries that have few manufacturing tirms and a population that is generally poor
- third world nations