商概定义.docVIP

Definition Chapter One Business: organizations that provide goods or services to earn profits. Profits: the difference between a business’s revenue and expenses, encouraging people to open and expand business. Economic system: a nation’s system for allocating its resources among its citizens, both individuals and organizations. Factors of production: the resources that a country’s businesses use to produce goods and services. Labor (human resources): the physical and intellectual contributions people make while engaged in the economic production. Capital: the financial resources needed to op