Intro to business- BUSA 1105 A with correct answers 100%

Intro to business- BUSA 1105 A with correct answers 100% Define Business - Correct Answer is any activity that seeks to make a profit by satisfying needs through selling goods or services and generating revenue Define an organization - Correct Answer is a group of people who work together to accomplish a specific purpose Why are For Profit Organizations formed - Correct Answer for-profit organizations are formed to make money, or profits, by selling goods or services How do For Profit Organizations measure accomplishment - Correct Answer generally by profit (or loss) What is the purpose of Nonprofit Organizations - Correct Answer earn enough profit to cover expenses and further their goals How do Nonprofit Organizations mesure success - Correct Answer While money and expenses are important, they typically measure success by how effectively services are delivered, or by other criteria Define Selling - Correct Answer is the exchange of goods or services for an agreed sum of money. The measure generally is profit(or loss). Define Revenue - Correct Answer is the total amount of money that the selling of goods and services produces during a defined period of time. An Expenses - Correct Answer are the costs incurred in running the business, such as salaries and rents. What is the equation for profit? - Correct Answer Revenue - Expenses Define Goods - Correct Answer Tangible products- things you can touch- such as food, clothing, appliances, gasoline, and books Define Services - Correct Answer Intangible products- things you can't touch- such as education, recreation, or health care (always social) What is an entrepreneur? - Correct Answer is a pe