Business Concepts

Front

An activity which seeks to earn a profit by providing a good or service is known as a(n):

Back

Business

Front

__________ is the amount a business earns after deducting what it spends for salaries and other expenses.

Back

Profit

Front

A business incurs a __________ if its costs and expenses exceed its revenues.

Back

Loss

Front

__________ is the chance a business owner will lose the time and money invested in a business that proves to be unprofitable.

Back

Risk

Front

The total amount of money that businesses take in by selling goods and services is called __________.

Back

Revenue

Front

A(n) __________ is a person who assumes the risk of starting a business.

Back

Entrepreneur

Front

Starting a business always involves __________.

Back

Risk

Front

Often in business the greater the risk, the __________.

Back

Greater the potential reward

Front

__________ is a measure of the general well-being and satisfaction derived from a variety of factors including political freedom, safety, education, and a clean environment.

Back

Quality of life

Front

The amount of goods and services people can buy with the money they have is called their:

Back

Standard of living