PCC Intro to Business Kasprzyk Test 1 with
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Practice questions for this set
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How can the U.S. lower its national debt?
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1 Business definition 2 Stockholder definition
3 Example of macroeconomics 4 Risk definition
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Terms in this set (69)
, Any organization that seeks to provide goods and
Business definition services (tangible and intangible) while making a
profit
The total amount of money that a business earns while
Revenue definition
selling goods and services (not the same as a profit)
Expenses definition Money that you pay out
Profit/loss definition What you've made above and beyond your expenses
The chance that an entrepreneur takes starting their
Risk definition
own business
Entrepreneurship Accepting the risk of starting and running a business
definition
· Freedom
· Opportunity/profit
Entrepreneurship pros and
· Challenge
cons
· Riskier
· May not receive benefits
1. Land (Natural resources)
2.Labor (People)
Factors of production 3.Capital (Machines, tools, buildings...)
4.Entrepreneurship (most important factor)
5.Knowledge (most important factor)
What contributes to a Factors of production
country's wealth?
Standard of living The amount of goods and services people can buy
definition with the money they have
· Overall sense of well-being in a society
Quality of life definition
-Education, healthcare, political freedom, safety, etc
Anyone effected by the decisions you make at your
Stakeholder definition
business
Stockholder definition Investors in businesses
Correct Answers
Save
Practice questions for this set
Learn 1 /7 Study with Learn
How can the U.S. lower its national debt?
Choose an answer
1 Business definition 2 Stockholder definition
3 Example of macroeconomics 4 Risk definition
Don't know?
Terms in this set (69)
, Any organization that seeks to provide goods and
Business definition services (tangible and intangible) while making a
profit
The total amount of money that a business earns while
Revenue definition
selling goods and services (not the same as a profit)
Expenses definition Money that you pay out
Profit/loss definition What you've made above and beyond your expenses
The chance that an entrepreneur takes starting their
Risk definition
own business
Entrepreneurship Accepting the risk of starting and running a business
definition
· Freedom
· Opportunity/profit
Entrepreneurship pros and
· Challenge
cons
· Riskier
· May not receive benefits
1. Land (Natural resources)
2.Labor (People)
Factors of production 3.Capital (Machines, tools, buildings...)
4.Entrepreneurship (most important factor)
5.Knowledge (most important factor)
What contributes to a Factors of production
country's wealth?
Standard of living The amount of goods and services people can buy
definition with the money they have
· Overall sense of well-being in a society
Quality of life definition
-Education, healthcare, political freedom, safety, etc
Anyone effected by the decisions you make at your
Stakeholder definition
business
Stockholder definition Investors in businesses
