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

What is Business?

Author: Aisha Williams

This lesson gives an overview of the basics of business. 

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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.