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BUSN-1010 Conroy 1
Chapter 1
| Question | Answer |
|---|---|
| Business | Any activity that seeks to make a profit by satisfying needs through selling goods or services to generate revenue. |
| Globalization | The increasing connectivity and interdependence of the world's economies, societies, and cultures because of advances in communication, technology, trade, international investment, movement of currency, and migration. |
| Natural Resources | Production inputs that are useful just as they appear in nature. |
| Nonprofit Organization | Its purpose is to provide products or services to clients, rather that to make a profit for owners and managers. |
| Productivity | The amount of goods and services a person or organization produces given the resources needed to produce them. |
| Profit | The amount of money a business makes after paying its salaries and all other costs--that is, revenue minus expenses. |
| Quality of Life | Expresses a society's general well-being as measured by standard of living, freedom, happiness, art, environmental health, and innovation. |
| Stakeholders | The people whose interests are affected by an organization's activities. |
| Standard of Living | Defined by how many goods and services people can buy with the money they have. |
Created by:
chuck2983
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