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The Nature of Business 商 务 特 征 Passage 1 Reading Reading the following passage carefully, try to understand ideas of it with the help of the given words below. Business is the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society’s needs. The general term business refers to all such efforts within a society or within an industry. However, a business is a particular organization. A person who risks his or her time,, effort, and money to start and operate a business is called an entrepreneur .to organize a business, an entrepreneur must combiner kinds of resources: material, human, financial, and informational. Material resources include the raw materials used in manufacturing processes, as well as buildings and machinery. Human resources are the people who furnish their labor to the business in return for wages .the financial resources is the money required to pay employees, purchase materials, and generally keep the business operating. And information is the resource that tells the managers of how effectively the other resources are being combined and utilized. Businesses are generally of three types. Manufacturing business (or manufacturers) is organized to process various materials into tangible goods, such as delivery trucks or towels. Service business produces service, such as haircuts or legal advice. And some firms-called middlemen-are organized to buy the goods produced by manufacturers and then resell them. All three types of businesses may sell either to other firms or to consumers. In both cases, the ultimate objective of every firm must bases reveries to satisfy the needs of its customers. In the course of normal operation, a business receives money (sales revenue) form its customers in exchange for goods or services. It must also pay out money to cover the various expenses involved in doing business. It has earned a profit. Profit is what remains after all business expenses have been deducted fro