Introduction to Business

An entity that seeks to earn a profit by providing a good or service is known as a(n)

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

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

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

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

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

Starting a business always involves ________.

Often in business the greater the risk, the ________.

________ 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.

The customers, employees, stockholders, suppliers, creditors, and others who stand to gain or lose by the policies and activities of a business represent the firm's: