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3 Tutorials that teach What is Business?
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What is Business?

What is Business?

Author: Jeff Carroll
Description:

This lesson gives an overview of the basics of business. 

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Tutorial

Source: Image of profit line, loss line, Creative Commons, Kelly Eddington; Image of crowd, office building, world, women on phone, blue jeans, images by Video Scribe, License held by Jeff Carroll; Image of hand holding paper, Public Domain, http://bit.ly/OcGLBF; Image of invisible hand, Public Domain, http://bit.ly/1pfSTC3.

Terms to Know
Business

An organization that attempts to earn a profit through the sale of goods or services.

Entrepreneur

A person who pursues a business venture with growth and expansion as a primary goal.

Free Enterprise System

A market system with little control and regulation of business (by the government).

Loss

When expenses are greater than sales - there is a loss.

Microeconomics

An area of economic study that focuses on specific markets, choices, and behaviors that affect price, cost and demand.

Profit

When revenue and sales are greater than expenses - there is a profit.