[BUS 1000] - Midterm Exam Guide - Comprehensive Notes for the exam (17 pages long!)

• School: Baruch College
• Department: Business Administration and Policy
• Course: BUS 1000
• Professor: Berna Basar

Document Summary

Key terms/words chapter # 1: business, entrepreneur, factors of production, loss, profit, services, nonprofit organization, productivity, quality of life, revenue, stakeholders, standard of living, demography, e-commerce. Class film on amazon: an entrepreneur, jeff bezos, who founded amazon with a small amount of money and is now estimated to be worth over billion. The ups and downs of entrepreneurship: ups: Entrepreneurs use (cid:449)hat they"(cid:448)e learned to gro(cid:449) their businesses and increase wealth. Example-microsoft and bill gates (1/3) of their employees are multi-millionaires. Quality of life: quality of life -- the general well-being of a society in terms of its political freedom, natural environment, education, healthcare, safety, amount of leisure and rewards that add to personal satisfaction. Countries with the highest quality of life chart. Local community member: outsourcing -- contracting with other companies (often in other countries) to do some of the fir(cid:373)"s fu(cid:374)(cid:272)tio(cid:374)s. gap making jeans in cambodia to sell in the usa.