Apply It 1.1: What Is Business?

  • Define the term business
  • Distinguish between goods and services
  • Distinguish between profit, loss, and value
  • Understand the difference between for-profit and nonprofit businesses
Watch the video and then answer the questions that follow.

You can view the transcript for “The Surprising Origin of Dippin’ Dots” here (opens in new window).

Dippin’ Dots actively supports social causes and nonprofit organizations. They list some of their involvement on their website. Does this make it a nonprofit business?