September 11, 2007

September 11, 2007 - Basic Terms: Business: Any activity...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Basic Terms: Business: Any activity involving the exchange of good and/or services between two or more parties on a local regional, or international scale Commerce: exchange of merchandise, especially on a large scale between two regions/nations **All commerce is business BUT not all business is commerce Entrepreneur: Innovative business people who attempt to profit by risk and initiative (plays an important role in economic development) Economic development: involves economic growth accompanied by a substantial structural or organizational change in the economy Unit 1: The Foundation: Development of European Business and Commerce The medieval world o 476 – 1500 AD (After the fall of Western Roman Empire by the barbarians) First established in 1 st century BC Implemented political and economical infrastructure (roads, currency, defense, government) Under attack in 3 rd century (times of warfare, famine, demoralized infrastructure and society destroyed) Western part of the Roman Empire falls due to German
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/13/2011 for the course MOS 1803 taught by Professor Gogan during the Spring '10 term at UWO.

Page1 / 3

September 11, 2007 - Basic Terms: Business: Any activity...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online