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Business and Its External Environment: Terms and Definitions, Quizzes of Introduction to Business Management

Definitions for various terms related to business, including the concept of a business, profits, the external environment, domestic business environment, global business environment, technological environment, political-legal environment, sociocultural environment, economic environment, economic system, and factors of production. Each term is defined in clear and concise language, making it an ideal resource for students and professionals seeking to deepen their understanding of business concepts.

Typology: Quizzes

2009/2010

Uploaded on 01/14/2010

jwooten1
jwooten1 🇺🇸

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TERM 1
Business
DEFINITION 1
organization that provides goods or services to earn profits
TERM 2
Profits
DEFINITION 2
difference between a business's revenues and its expenses
TERM 3
External
Environment
DEFINITION 3
everything outside an organizations boundaries that might
affect it
TERM 4
Domestic Business
Environment
DEFINITION 4
the environment in which a firm conducts its operations and
derives its revenues
TERM 5
Global Business environment
DEFINITION 5
the international forces that affect a business
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Business

organization that provides goods or services to earn profits

TERM 2

Profits

DEFINITION 2

difference between a business's revenues and its expenses

TERM 3

External

Environment

DEFINITION 3

everything outside an organizations boundaries that might

affect it

TERM 4

Domestic Business

Environment

DEFINITION 4

the environment in which a firm conducts its operations and

derives its revenues

TERM 5

Global Business environment

DEFINITION 5

the international forces that affect a business

Technological

Environment

all the ways by which firms create value for their

constituents

TERM 7

Political-legal

Environment

DEFINITION 7

the relationship between business and government

TERM 8

sociocultural environment

DEFINITION 8

the customs mores values and demographic characteristics

of the society in which an organization functions

TERM 9

Economic

Environment

DEFINITION 9

relevant conditions that exist in the economic system in

which a company operates

TERM 10

economic system

DEFINITION 10

a nations system for allocating its resources among its

citizens