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205

EC-003

TermDefinition
Bilk Cheat
Business risk the possibility of loss or gain inherent in conducting business
Competition The rivalry between two or more businesses
Contract an agreement
Corporation A form of business ownership
Demand Want
Demographics The physical and social characteristics of the population
External risk Financial risks that a business cannot control such as inflation and interest rates
Financial risks Possible events or causes that affect the companies financial growth or profits
Free enterprise An eco system where the government does not own the mean of production but the people
Guarantee A promise made to the consumer
Hazard risk Potential events or situations that could cause harm people or event property and environment
Insurance A contract where a company will pay for and sort of injury or loss
Investment The use of money to make more money
Lease A contract that allows others to use some property for a certain time
Liability Insurance A contract where a company gives money for any losses a person or company may be responsible for
Markets Arrangements for the buying and selling of goods and services
Obsolescence The state of being outdated
Operational risk Possible events and situations resulting from employee actions
Created by: Josue.r991
Popular Business sets

 

 



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