Business and Social Responsibilities

Chapter 5 Vocab- Quizlet Link

Page 85: Questions-

1. A business is an organization that is involved in producing and marketing goods and services. Every business seeks to satisfy economic needs by planning, organizing and controlling resources in order to produce and market goods and services. 
2. Two primary functions of business are the production and marketing of goods and services. 
3. Categories of Businesses:
1. Large vs. Small
2. Domestic vs. Global
3. Profit vs. Nonprofit
4. Public vs. Private
4. E-commerce is significant due to the fact that our world revolves around the internet. E-commerce makes it possible for people to buy and sell goods through the use of electronic networks, usually the internet. 
5. If a small business is successful, the owner of that business can make lots of money. Small businesses like Tin Bucket, Christopher's, Aine's Boutique and Tread are all very successful and are owned by Reading families and people that live in the community.