MGTA01H3 Chapter Notes - Chapter 1: Free Company, Office Supplies, Canadian Business
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MGTA01H3 Full Course Notes
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Document Summary
An organization that seeks to earn profits by providing g/s* the money comes from (cid:862)revenues(cid:863) or (cid:862)sales(cid:863) Profit the money that remains (if any) after a business"s expenses are subtracted from its revenues the difference between money in(revenues or sales) and money out (costs or expense) fundamental reason for a business to exist. Not all organizations are business: hospital, school, churches. These organizations provide service but not intend for profit. The money a business spends producing its g/s and generally running the business. The money a business earns selling its products and serves. The study of how businesses, people make choices about: 5 factors: labour, capital, entrepreneurs, natural resources, infomation. The fund needed to operate an enterprise. Money, or machines and technologies that money can buy. The people who assemble and organize the other factors of production. Items used in the production of g/s in their natural state.
