click below
click below
Normal Size Small Size show me how
Term | Definition |
---|---|
Business | The activity of providing goods and services to the customer for profit |
Profits | |
The amount left when a business subtracts its expenses from its revenue | |
For- Profit | The primary reason for the business to exist |
Non-Profit | The primary reason for the business to exist is something other than profit |
Sole Proprietorship | A legal form of business with only one onwer |
Partnership | Two or more owners in a business |
Corporation | A legal form of business ownership that is determined by the shares held by the owner. |
Management | The business function of planning, organizing, directing, and controlling business resource's. |
Marketing | The business function that focuses on the exchanged process between the business and its customers. |
Accounting | The business function that tracks the flow of payment in and out of a business |
Production | The business function that designs and manages the process that manufacturs the businesses products |
Information technology | The business function that manages all the technology use to run the business and collets information for desison making. |
HIPPA | Health insurance portability and accounting act of 1996 |
Hippa | A federal law that mandates insurance portability and sets up procedure for electronic data exchange |
Market economy | Sellers compete for customers. |
Oilopoly | Only a few sellers |
Monopoly | With one seller that sets whatever price. |
Demand | The amount of good the seller is willing to purchase at a given price |
Economic Indicator's | Keys measurements that provide information about the health of the economy. |
Interest | The amount stated as a percentage paid to borrow money |
Inflation | An increase in price level |
Unemployment | Lack of jobs in the economy for those willing and able to work |
Business cyle | Regular cycles in declined growth in a economy over a period of time. |
Joint Commission | National organization that evaluates and accredit health care organizations |
Antitrust | An area of federal laws that prohibits monopolization. |
SWOT analysis | A method used by business that analyse the external environment |