POB OBJ 5.02 CD Vocab

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Business risk

Back

Possibility of loss (failure) or gain (success) in business.

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Cost of goods

Back

The amount a business pays for products sold or raw materials for production.

Front

Economic risks

Back

Risks from changes in overall business conditions.

Front

Expenses: Money spent or cost incurred to generate revenue.

Back

Cost of doing business.

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Guarantee

Back

A promise to refund the purchase price if the product is unsatisfactory.

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Human risk

Back

Perils from human errors and unpredictability of customers, employees, or the work environment.

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Income

Back

Money received by resource owners and producers for supplying goods and services.

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Natural risks

Back

Perils from environmental causes

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Operating expenses

Back

All expenses involved in running a business.

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Profit

Back

Monetary reward for taking investment risks.