Introduction to Business Administration. - Business Administration Lecture 02

business environment, concept of business, profit, profit maximization, making money, consumer choice, business opportunities, entrepreneurship, external environment, domestic business environment, global business environment, open economy, closed economy, technological environment, political environment, legal environment, socio-cultural environment, economic environment, economic systems, socialism, communism, factors of production, capital, financial capital, real capital, land, labor, human capital, health, education, experience, physical resources, natural resources, renewable resources, information resources, planned economy, capitalism, free-market capitalism, mixed economy, market systems, markets, suppliers, producers, consumers, demand, supply, demand curve, supply curve, quantity demanded, quantity supplied, equilibrium, equilibrium price, equilibrium quantity, the law demand, law of demand, surplus, shortage,