Business and Economics Glossary: Terms and Definitions, Quizzes of Introduction to Business Management

Download Business and Economics Glossary: Terms and Definitions and more Quizzes Introduction to Business Management in PDF only on Docsity! TERM 1 goods DEFINITION 1 tangible products such as computers, food, clothing, cars and appliances TERM 2 services DEFINITION 2 intangible products such as education, health care, insurance, recreation, travel TERM 3 entrepreneur DEFINITION 3 person who risks time and money to start and manage a business TERM 4 revenue DEFINITION 4 total amount of money a business takes in during a given period by selling goods and services TERM 5 profit DEFINITION 5 the amount of money a business earns above and beyond what it spends for salaries and other expenses needed to run the operation TERM 6 loss DEFINITION 6 occurs when a business's expenses are more than its revenues TERM 7 risk DEFINITION 7 chance an entrepreneur takes of losing time and money on a business that may not prove profitable TERM 8 standard of living DEFINITION 8 refers to the amount of goods and services people can buy with the money they have TERM 9 quality of life DEFINITION 9 refers to general well-being of a society in terms of its political freedom, natural environment, education, health care, safety, amount of leisure, and rewards that add to the satisfaction and joy that other goods and services provide TERM 10 stakeholders DEFINITION 10 people who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address TERM 21 B2B DEFINITION 21 business-to-businessbusiness sell goods and services to one another TERM 22 database DEFINITION 22 an electronic storage file for information TERM 23 identity theft DEFINITION 23 obtaining of individuals' personal information, such as social security and credit card numbers, for illegal purposes TERM 24 empowerment DEFINITION 24 giving frontline workers the responsibility, authority, freedom, training, and equipment they need to respond quickly to customer requests TERM 25 demography DEFINITION 25 statistical study of the human population with regard to its size, density, and other characteristics such as age, race, gender, and income TERM 26 climate change DEFINITION 26 movement of the temperature of the planet up or down over time TERM 27 greening DEFINITION 27 trend toward saving energy and producing products that cause less harm to the environment