Fresh Take 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

What is a business?

Note that the video above has no narration; only instrumental music. A hand sketches out the text written on the screen. Access the transcript of the text in the link below.

You can view the transcript for “What is a Business? Definition and meaning…” here (opens in new window).

For-profit vs. nonprofit business

You can view the transcript for “What is a Nonprofit?” here (opens in new window).