In this course, we use everyday, easy-to-understand language to explain the fundamental basic terms, definitions, concepts, and practices needed to operate and understand business from the ground-floor up.
While this course uses United States information as examples, the information and principles included apply to almost every country in the world.
Throughout the entire course, quizzes and actual working “homework assignments” are used to reinforce the lessons as well as help the student understand what they are grasping or needing to restudy.
Some of the many areas covered in the course include:
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General Terms including the Goods vs Services; Demand vs Supply; Standard of Living vs Quality of Life, Economics: both Micro and Macro
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An explanation of the difference between For-Profit businesses and Not-for-Profit operations
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Explaining each of the 5 standard Inputs businesses require to run effectively; As well as the 7 External Factors/Environments which guide successful business decisions
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How businesses on all levels work together to create various different financial outcomes and results
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MANY other lessons are included such as:
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The Three Goals that businesses affect that control entire economies
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An explanation of the differences between Communism, Socialism, Free-Market Capitalism, as well as how the relate to each other in both good and bad ways
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Simple definitions of many different words and concepts in business including financial terms like Profit/Loss, Assets, Liabilities, Equity, and more
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And a lot of other pieces of information scattered in between
NOTE: This is one mini-course included in the Introduction to Business: Volume 1 series. It is a completely stand-alone course with no prerequisites to understand the content. However, all the separate courses combined provide a comprehensive understanding of introductory business concepts equivalent to a 16-week, 3-credit hour, college course.
