BUS101Introduction to Business

Risks and Profits

• Business

• Goods

• Services

• Entrepreneur

Risks and Profits

• Revenue

• Profit

• Loss

• Quality of Life

• Stakeholders

• Outsourcing

• Insourcing

• Nonprofit organization

• Social entrepreneurs

• Factors of Production

Land, Labor, Capital, Entrepreneurs, Knowledge

Risks and Profits

• Business Environmento Economic and Legalo Technologicalo Competitiveo Socialo Globalo Ecological

• Productivity

• $63, 885

• e-commerce

• database

• Big Data

• identity theft

Risks and Profits

• Serviceso 70% of US economy

Economics

o Economicso Microeconomicso Macroeconomicso Resource Developmento Adam Smith

freedom of ownership profits

o Invisible Hando Malthusiano Capitalism

Economics

• Capitalismo Right to private propertyo Right to business ownershipo Right to freedom of competitiono Right to freedom of choice

• Free Market

• Supply

• Demand

• Supply and Demand Curves

• Equilibrium Point

• Market Price

Economics

• Perfect competitiono commodity

• Monopolistic competition

• Oligopolistic Competition

• Monopoly

• Inequality

• Socialism

• Communism

• Mixed economieso Free-marketo Command

Economics

o Economic Indicatorso GDPo Unemployment Rateo Underemploymento Price Indexo Inflationo Disinflationo Deflationo Stagflationo CPIo Core inflationo PPI

Economics

o Business Cycleo Boomo Recessiono Depressiono Recoveryo Fiscal Policyo National Debto Monetary Policyo Interest Rates