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business
Any activity that seeks to provide goods and services to others while operating at a profit
business environment
The surrounding factors that either help or hinder the development of business
database
An electronic storage file where information is kept; one use of databases is to store vast amounts of information about consumers
demography
The statistical study of the human population with regard to its size, density, and other characteristics such as age, race, gender, and income
e-commerce
The buying and selling of goods and services over the Internet
empowerment
Giving frontline workers the responsibility, authority, and freedom to respond quickly to consumer requests
entrepreneur
A person who risks time and money to start and manage a business
factors of production
The resources used to create wealth: land, labor, capital, entrepreneurship, and knowledge
goods
Tangible products such as computers, food, clothing, cars, and appliances
identity theft
The obtaining of private information about a person, such as Social Security number and/or credit card information for illegal purposes, such as buying things with it
loss
When a business's expenses are more than its revenues
nonprofit organization
An organization whose goals do not include making a personal profit for its owners or organizers
outsourcing
Assigning various functions, such as accounting, production, security, maintenance, and legal work, to outside organizations
productivity
The amount of output you generate given the amount of input
profit
The amount of money a business earns above and beyond what it spends for salaries and other expenses
quality of life
The general well-being of a society in terms of political freedom, a clean natural environment, education, health care, safety, free time, and everything else that leads to satisfaction and joy
revenue
The total amount of money a business takes in during a given period by selling goods and services
risk
The chance an entrepreneur takes of losing time and money on a business that may not prove profitable
services
Intangible products (i.e., products that can't be held in your hand)such as education, health care, insurance, recreation, and travel and tourism
stakeholders
All the people who stand to gain or lose by the policies and activities of a business
standard of living
The amount of goods and services people can buy with the money they have
technology
Everything from phones and copiers to computers, medical imaging devices, personal digital asistants, and the various software programs that make business processes more efficient and productive
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