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Jan. 25, 2017 Vocabulary: The Business Environment 1. Business- An activity that is designed to provide goods and services while making a profit. 2. Business Environment- Surrounding factors that either help or cuts back the development of businesses. 3. Climate Change- Movement of the tempratures of the planet either up or down over time. 4. Data Base- An electronic storage file for information. 5. Demography- The statistical study of human population to size, age, race, gender and income. 6. E-Commerce- Buying and selling of goods over the internet. 7. Empowerment- The giving of more authority to the front line workers, including training and equipment for faster customer requests. 8. Entreprenuer- A person who risks time and money to start a new business. 9. Factors of Production- resourses used to create wealth, land, labor, capital, entrprenurship and knowledge. 10. Goods- Tangeble products like cars, food, computers and clothing. 11. Greening- Saving energy, and producing products less harmful to the environment. 12. Identity Theft- Obtaining personal information such as bank information, social security numbers and credit card information for illegal purposes. 13. Loss- When someone business expenses are more than their revenue. 14. Nonprofit Organization- Groups whos goals are not to make a personal profit, but for public profit, such as schools and charitable organizations. 15. Outsourcing- Contracting other companies to do some or all of its functions of a firm. 16. Productivity- The amount of output, given the amount of input. 17. Profit- Amount of money earned over the toatal amount that was put in. 18. Qualities of Life- refers to the general well being of a society in terms of political freedom, health care, and overall rewards. 19. Revenue- Total amoungt of money made in a business over a certain amount of time. 20. Risk- A chance that someone takes in time and money that turns out to be non profitable. 21. Services- Intangeble products, goods that cannot be held in hand, such as health care, education and insurance. 22. Stakeholders- All the people who stand to gain or lose by policies and activities of business and whose concerns the businesses need to address. 23. Standard of Living- The amount of goods and services people can buy with the amount of money they have. 24. Technology- Everything from phones to computers, various software programs that make businesses more efficient and productive.