{"id":8825,"date":"2022-06-13T08:17:55","date_gmt":"2022-06-13T08:17:55","guid":{"rendered":"https:\/\/www.booksofall.com\/tw\/?post_type=product&p=8825"},"modified":"2022-06-13T08:17:55","modified_gmt":"2022-06-13T08:17:55","slug":"introduction-to-business","status":"publish","type":"product","link":"https:\/\/www.booksofall.com\/tw\/introduction-to-business\/","title":{"rendered":"Introduction to Business"},"content":{"rendered":"

Business<\/b>\u00a0is the activity of making one’s living or making money by producing or\u00a0buying and selling<\/a>\u00a0products<\/a> (such as goods and services). It is also “any activity or enterprise entered into for profit.”<\/sup><\/p>\n

Having a\u00a0business name<\/a>\u00a0does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner’s personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.<\/p>\n

We begin our study of business by introducing you to the primary functions of a business, the relationship between risk and profits, and the importance of not-for-profit organizations. We\u2019ll also examine the major components of the business environment and how changing demographic, social, political and legal, and competitive factors affect all business organizations. Next, we\u2019ll explore how economies provide jobs for workers and also compete with other businesses to create and deliver products to consumers. You will also learn how governments attempt to influence economic activity through policies such as lowering or raising taxes. Next, we discuss how supply and demand determine prices for goods and services. Finally, we conclude by examining key trends in the business environment, economic systems, and the competitive environment.<\/p>\n

1.1 The Nature of Business<\/p>\n

1. How do businesses and not-for-profit organizations help create our standard of living?<\/p>\n

Take a moment to think about the many different types of businesses you come into contact with on a typical day. As you drive to class, you may stop at a gas station that is part of a major national oil company and grab lunch from a fast food chain such as Taco Bell or McDonald\u2019s or the neighborhood pizza place. Need more cash? You can do your banking on a smartphone or other device via mobile apps. You don\u2019t even have to visit the store anymore: online shopping brings the stores to you, offering everything from clothes to food, furniture, and concert tickets.<\/p>\n

A business is an organization that strives for a profit by providing goods and services desired by its customers. Businesses meet the needs of consumers by providing medical care, autos, and countless other goods and services. Goods are tangible items manufactured by businesses, such as laptops. Services are intangible offerings of businesses that can\u2019t be held, touched, or stored. Physicians, lawyers, hairstylists, car washes, and airlines all provide services. Businesses also serve other organizations, such as hospitals, retailers, and governments, by providing machinery, goods for resale, computers, and thousands of other items.<\/p>\n","protected":false},"excerpt":{"rendered":"