Principles Of Business

Reasons to start a business?

• Desire for Financial independence

• Self-fulfilment

• Leisure

• Fun

Steps for Establishing a Business?

• Legalization

• Conceptualization

• Financial support

• Support

What is a Bill of Lading?

• An airway document

• Details the type, quantity, and destination of the goods

• A document issued by a shipper to carrier

• A legal document issued by a carrier to a shipper

Types of Production

• Labour, capital, ships, entreprenuer

• Capital, goods, land, services

• Land, labour, capital, enterprise

• Machinery, goods, ships, land

What is Business Technology?

• Applications of science, data,

  engineering, and information for business purposes, such as the

  achievement of economic and organizational goals.

• The application of scientific knowledge for practical purposes, especially in industry.

• The branch of knowledge dealing with engineering or applied sciences

• Machinery and equipment developed from the application of scientific knowledge.

Types of fixed Capital

An entrepreneur is

(a)  

Legal aspects of a Business

• A document about law concerning business

• an agreement, enforceable by law, between two or more persons to do or not to do an act or acts