MGTA01H3 Lecture : Chapter 1A Lecture

71 views3 pages

tealwasp399

10 Nov 2010

School

Department

Course

Professor

For unlimited access to Class Notes, a Class+ subscription is required.

noahrosa0429 and 39878 others unlocked

MGTA01H3 Full Course Notes

Verified Note

14 documents

Document Summary

Business and exchanges the economic system. That provides goods and services, or both. With the expectation of increasing value for the owners of the business, usually in. In exchange for money from clients the form of profits. but clients do not pay for the services directly. renting property, lending interest or collecting royalties. Increase in value to owners, but not from commercial activity. Supplies goods and services, engaging in commercial exchanges. Gets paid from clients in exchange for receiving the goods and services. The exchanges generate increased value for the owners of the business, usually in the form of profits. Of the success of economic exchanges www. notesolution. com. Profit is more than a measure of economic success. Profit becomes a goal the business run for profit: the purpose of the business becomes more than the supply of a good or service, the purpose of the business becomes making profits.

Related Questions

16) Which of the following best defines the term business cycle? a) the pattern of short-term ups and downs in an economy the total quantity of goods and services produced by an economic system during a given period the conditions of the economic system in which an organization operates the measure of economic growth that compares how much a system produces with the resources needed to produce it d)

Which of the following statements is true of organizational culture?

a) It is absent in large organizations.

b) It can only be conveyed through formal communication between managers and subordinates.

c) It exists only in the top management of an organization.

d) It helps ensure that all members of a company share values.

e) It is seldom seen in profit-making businesses.