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I.WHAT IS A BUSINESS? Describe how workes and not-for-profit organizations bring in to a countrys standard of living and quality of life. A. primary inventionS 1.A BUSINESS is any activity that seeks profit by providing goods and go to others. 2.PROFIT is the amount a course earns above and beyond what it spends. innovation CHECK 3.Businesses also provide wad with the opportunity to become wealthy.B.BUSINESSES after part PROVIDE WEALTH AND A HIGH QUALITY OF LIFE FOR or so EVERYONE. 1.ENTREPRENEURS ar people who organize, operate, and assume the riskiness of starting a business. 2.Businesses are a part of an economic system that helps to create a higher(prenominal) standard of living and quality of life for everyone. 3.The QUALITY OF LIFE of a country refers to the general well-being of a societyC.NONPROFIT ORGANIZATIONS economic consumption BUSINESS PRINCIPLES. 1.Nonprofit organizations such as government agencies, public schools, charities, and affable causes help make a country more responsive to tout ensemble the needs of citizens. 2.A NONPROFIT ORGANIZATION is an organization whose goals dont include making a profit for its owners. 3.You need the SAME SKILLS to determine in nonprofit organizations that you need in business, including information management, leadership, marketing, financial management. 4.Businesses, nonprofit organizations, and volunteer groups often strive to accomplish the same objectives.I.II.ENTREPRENEURSHIP VERSUS WORKING FOR OTHERS. apologize the importance of entrepreneurship to the wealth of an economy and show the relationship of profit to risk assumptionA.There are TWO WAYS TO SUCCEED IN BUSINESS 1.One way is to rise up through the ranks of a large company. 2.The more risky path is to start your own business.B.OPPORTUNITIES FOR ENTREPRENEURS. 1.Millions of people have taken the entrepreneurial risk and succeeded. 2.Entrepreneurs have come from exclusively over the world to prosper in America. a.The number of Hispa nic-owned businesses in the join States grew by 76% in the 1990s. b.Increases have also been made by Asians, Pacific Islanders, American Indians, and Alaskan Natives.3.The number of women business owners has also dramatically increased.C.MATCHING RISK WITH PROFIT 1.Not all businesses make a profit profit is revenue minus expenses. 2.REVENUE is the bills a business earns by selling goods and services. 3.A LOSS occurs when a businesss costs and expenses are more than its revenue, the money a business earns by selling its products. 4.RISK is the chance you take of losing time and money on a business that may not prove profitable. CONCEPT CHECK 5.Rewards and risk are related.