1. Management is defined as the achievement of organizational objectives through people and other resources. 2. Business may be defined as all profit-seeking activities and enterprises that provide goods and services necessary to an economic system. 3. Industry are business firms which are engaged in buying and selling of goods and services.

1. Management is defined as the achievement of organizational objectives through people and other resources. 2. Business may be defined as all profit-seeking activities and enterprises that provide goods and services necessary to an economic system. 3. Industry are business firms which are engaged in buying and selling of goods and services.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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