This preview shows page 1. Sign up to view the full content.
Unformatted text preview: Key Terms Chapter 1 business any activity that seeks to provide goods and services to other while operating at a profit business environment the surrounding factors that either help or hinder the development of business database an electronic storage file where information is kept demography the statistical study of the human population with regard to its size, density, age, race, gender, income, etc e-commerce the buying and selling of goods over the internet empowerment giving frontline workers responsibility, authority, freedom, training, and equipment they need to respond quickly to customer requests and to make other decisions entrepreneur a person who risks time and money to become wealthy factors of production 1. land or natural resources 2. labor (workers) 3. capital 4. entrepreneurship 5. knowledge goods tangible product such as computers, food, clothing, cars, and appliances identity theft the obtaining of private information about a person such as Social Security number and/...
View Full Document
This note was uploaded on 09/06/2009 for the course BUSI 1301 taught by Professor Jabour during the Fall '09 term at Austin Community College.
- Fall '09