BUS 082 Lecture Notes - Lecture 1: Human Resources, Invisible Hand

• School: College of The Sequoias
• Department: Business (BUS)
• Course: BUS 082
• Professor: gradin

Document Summary

All profit-seeking activities and enterprises that provide goods and services necessary to an economic system. Rewards for business people who take the risks involved to offer goods and services to customers. Organizations whose primary aims are public service, not returning a profit to their owners. These organizations play important roles in society by placing pubic service above profits. They operate in both the private and public sectors. Museums, libraries, trade associations, and charitable and religious organizations. Government agencies, political parties, and labour unions. Place public service above profits, although they need to raise money to operate and achieve their social goals. Include all production inputs that are useful in their natural states. Basic inputs required in any economic system. Include anyone who works, from ceo of a huge corporation to a self-employed editor. Their input includes physical labour and intellectual effort. The willingness to take risks to create and operate a business.