MGTA01H3 Lecture Notes - Lecture 2: British Coal, Capital: Critique Of Political Economy, Profit Motive
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Mgta01 lecture 2 the factors of production. Organized effort to create or provide something this happens to be something that people want or need. Revenue money that flows into the business when the product is successful marketed and influences people to buy it. A successful business hopes to have the amount of revenue coming in is greater than the expenses. A bottle of water, made from plastic and holds 500 ml of water. Tries to make a profit vs. universities are not (ex. The domestic student"s education is subsidized through tax payer money) Vs. international students" money is a business! If a company wants to film on campus grounds, uoft charges them; therefore resulting in a business activity, within a larger business. They set up their practices and build their business. A doctor may go into business because they want to help or because they want to make a lot of money!
