The Nature of Business
Economic Foundations of Business
American Economy
For Profit or NonProfit
Random Biz
100
Individuals or organizations who try to earn a profit by providing products that satisfy people's needs and wants.
What is a business?
100
The study of how resources are distributed for the production of goods and services.
What is economics?
100
The system that our U.S. economy is based on.
What is capitalism or free-enterprise?
100
A business whose primary purpose is to make money.
What is a for-profit business?
100
To develop skills, acquire knowledge, and prepare you for all future careers.
What is the value of studying business?
200
Earning a profit.
What is the primary goal of all businesses?
200
The forces that determine the distribution of resources and products.
What are supply and demand?
200
A business whose primary purpose is to serve a mission or purpose.
What is a non-profit?
200
The people who work for a business.
What are employees?
300
A tangible good or intangible service that has characteristics that provide satisfaction and benefits.
What is a product?
300
Communism, Socialism, Capitalism
What are the three basic economic systems?
300
The number of goods and services consumers are willing to buy at a given price at a specific time.
What is demand?
300
One way a non-profit gets money to achieve its mission.
What is fundraising?
300
The economic system of the U.S. when the colonists established themselves here.
What is an agricultural economy?
400
Groups that have an interest in the success of a business.
What are stakeholders?
400
Economies made up of elements from more than one economic system.
What are mixed economies?
400
The number of products or services that businesses are willing to sell at a given price at a specific time.
What is supply?
400
A business activity required for both profit and non-profit businesses in order for people to know they exist.
What is marketing?
400
The money a business brings in.
What is income?
500
Management, Marketing, and Finance.
What are the three primary business activities?
500
Also known as pure capitalism, in which all economic decisions are made without government intervention.
What is a free-market system?
500
A way that consumers, the economy, and the environment are protected by the government.
What is regulation?
500
An intangible product that solves a problem.
What is an idea?
500
The expenditures a business pays out.
What are expenses?
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