BUS-110-M1D Chapter 1 Week 1 Key Terms
BUS-110-M1D Chapter 1 Week 1 Key Terms BUS-110-M1D
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This 2 page Class Notes was uploaded by Ryan Notetaker on Thursday August 11, 2016. The Class Notes belongs to BUS-110-M1D at 1 MDSS-SGSLM-Langley AFB Advanced Education in General Dentistry 12 Months taught by Leruth M. Sisson in Summer 2016. Since its upload, it has received 27 views. For similar materials see Introduction to Business in Business at 1 MDSS-SGSLM-Langley AFB Advanced Education in General Dentistry 12 Months.
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Date Created: 08/11/16
Chapter 1 Terms Business: a person or place that provides a good or service Business Environment: where a business operates. - REMEMBER: • ECONOMIC • COMPETITIVE • TECHNOLOGICAL • SOCIAL • GLOBAL EAT CORN TO SAVE GOATS Demographics: population characteristics; includes population size, density, age, gender, race, etc. E-commerce: Business that is conducted online (think Amazon, online stores, paying bills, etc). Entrepreneurs: People that use their own time, money, and resources to start, as well as manage, their own business. Loss: Expenses > Revenue Revenue - Expenses = Loss Non-proﬁts: Business;like places that provide employment and services for their communities instead of focusing on ﬁnancials. Proﬁt: money that a business earns. Revenue - Expenses = Proﬁt Quality of Life: Feelings felt by an individual or group Speed to Market: how quickly a product moves from being an idea to being available in stores or online Standard of Living: the amount and quality of a good that is provided to a population Value: relationship of price and beneﬁts that a good or service provides its customers.