Types of Business
Type of commercial business that use mostly labor to offer mostly intangible products to satisfy consumer needs.
What are service businesses?
An organization that produces or distributes a good or service for profit.
What is a business?
The chief measure of a nation's wealth.
Gross Domestic Product (GDP)
U.S. Economy
What is a market economy or free market?
The moral principles, policies, and values that govern the way businesses and individuals engage in business activity.
What are business ethics?
Businesses that product goods used by other businesses or organizations to make things.
What are industrial businesses?
Businesses engaged in marketing, finance, and providing services. Retailers, medical offices, hotels, banks.
What are commercial businesses?
Not reported in the gross domestic product.
What is the underground economy?
An individual’s basic requirement that must be fulfilled, in order to survive.
What are needs?
The responsible parties in a business, to make sure proper ethics are being carried out.
Who is everyone in the company?
Walmart
What is a commercial business?
All of the money matters involved in running a business.
What is finance?
Legal agreement in which a n individual or small group of investors purchases the right to sell a company's product or service under the company's name and trademark.
What is a franchise?
Items that are not essential for living and so non-fulfillment, does not have a great impact on a person’s life, however, disappointment may be there.
What are wants?
This type of code of ethics that include all the positive traits you have now and the ones you wish to have. This is the "I am" and "I want to be" list.
What is a personal code of ethics?
Lawn-mowing business
What is a service business?
Activities between business and customers involved in buying and selling goods and services.
What is marketing?
Someone who starts, manages, and owns a business.
What is an entrepreneur?
This happens to prices when demand increases?
Increase in demand, prices generally rise in the short run
⬆️ demand = ⬆️ prices
This often guides business ethics
What is the law?
Boeing Manufacturing
What is an industrial business?
All businesses within a category doing similar work.
What is an industry?
Producing the largest amount in the least amount of time using efficient methods and modern equipment.
What is productivity?
This happens to prices when supply increases?
When supply increases, prices generally fall
⬆️ supply = ⬇️ prices
This type of barrier can prevent proper ethics.
What is fear of retaliation?