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Business any activity that seeks to provide goods and services to others while operating at a provide  
Business Environment surrounding factors that help or hinder the development of businesses  
Nonprofit Organization an organization whose goals of not include making a personal profit for its owners or organizers  
Standard of Living refers to amount of goods and services people can buy with the money they have  
Quality of Life refers to the general well-being of a society in terms of political freedom, a clean national environment, education, health care, safety, free time, and everything else that leads to satisfaction and joy  
Factors of Production the resources used to create wealth: land, labor, capital entrepreneurship, and knowledge  
Goods products such as computers, food, clothing, cars, and appliances  
Stakeholders all the people who stand to gain or lose by the policies and activities of a business  
Empowerment giving frontline workers the responsibility, authority, and freedom to respond quickly to customer requests.  
Revenue total amount of money a business takes in during a given period by selling goods and services  
Risk chance an entrepreneur takes of losing time and money  
E-Commerce buying and selling of goods and services over the internet  
Profit amount of money a business earns above and beyond what is spent for salaries and other expenses  
Service intangible products such as education, health care, insurance, recreation, travel, and tourism.  
Loss occurs when a business expenses are more than its revenues  
Productivity amount of output you generate given the amount of input  
Entrepreneur someone who risks time and money to start and manage a business  

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