Foundations of Business (Standalone Book) (MindTap Course List)
Foundations of Business (Standalone Book) (MindTap Course List)
5th Edition
ISBN: 9781305511064
Author: William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher: Cengage Learning
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Chapter 1.2C, Problem 3CC
Summary Introduction

To determine: The relationship among profit, business risk and satisfying the customers’ needs.

Introduction: The term business is defined as the planned exertion of people to manufacture and trade, for revenues, the goods and services that fulfill the requirements of the people. A business must be designed in such a way that it is managed efficiently, gratify the needs and should make profits.

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