MGTA01H3 Study Guide - Final Guide: Initial Public Offering, Sole Proprietorship, Planned Economy
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MGTA01H3 Full Course Notes
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Business an organization that seeks to earn profits by providing goods and services. Profit the money that remains (if any) after a business"s expenses are subtracted from its revenues. Expenses the money a business spends producing its goods and services and generally running the business. Revenues the money a business earns selling its products and services. Profits reward the owners of businesses for taking the risks involved in investing their time and money. Among the most profitable companies in 2005 were the royal bank of canada(3. 3 million), manulife financial and imperial oil ltd. In canada"s economic system, businesses exist to earn profits for owners who are free to set them up. Businesses must take into account what consumers want or need, otherwise they won"t survive if there are no demand. A canadian business is different in many ways from china, and both canada and. China are different from businesses in japan, france, or peru.
