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1、1BusinessandYourLifeBusiness and Your Life You Depend on Business Modern business is well organized and operates smoothly. We often accept business services, therefore, without much thought of their importance to us. Have you ever considered the many ways in which you depend on business? Business su
2、pplies the food you eat, the clothes you wear, the home you live in, and the many other goods and services used in satisfying your wants. Many times a week most of us are affected by business. During a certain week, for example, you may make telephone calls, have your eyeglasses repaired, ride in a
3、taxi, consult your doctor, deposit money in your savings account, buy a new bicycle tire, or advertise for your lost dog. Your home, too, depends on business in obtaining the goods and services your family needs. One family reported these business 1 activities for a certain day: issued checks to pay
4、 automobile insurance and electric bill; bought a rug and chairs; mailed a letter to order some books; paid the newsboy; hired a carpenter to repair a window frame; bought a United States savings bond at the bank; left a roll of film at the camera shop; had dinner at a restaurant. What Is Business?
5、You frequently hear the word business in everyday conversations. Here are some expressions using the word: “How is business this month?” “What line of business is he in?” “Our firm does a cash business.” “Business hours are 9 to 5.” “John is taking a business course.” Although you may have a general
6、 understanding of the meaning of each statement, at this time you probably would have difficulty in giving a clear-cut explanation of business. Business means different things to different 2 people. To one person it means producing goods through farming, manufacturing, or some other industry. To ano
7、ther it means buying and selling merchandise. To a third person it means providing services. To a fourth it means engaging in an occupation to earn a living. Each of these instances-making goods, buying and selling goods, providing services, engaging in an occupation-illustrates the meaning of busin
8、ess. In this article, business means the work or activities by which goods and services are provided and obtained for money payment. Some Activities Are Not Business Enterprises such as the grocery store, the bus line, the newspaper, the electric company, and the bank are readily identified as being
9、 in business. They supply goods and services for payment. What about the laundry, the television repairman, the plumber? They, too, work for payment and are therefore engaged in 3 business. Not all activities in which work is involved are classed as business. If you help a friend repair a car or pai
10、nt his house, you would be working. Unless you receive payment, however, you are not taking part in business in the true sense of the word. Here is the test of whether or not an activity can be classed as business: Is payment made for the goods supplied or service performed? If money payment is requ
11、ired, the activity is business. Business Transactions Producer and consumer To carry on business, whether it consists of producing goods, distributing goods, or providing services, three factors-people, goods, and money-are necessary. People refers to both producers and consumers. Producers are the
12、firms and workers who produce and distribute goods or services. Consumers are those who buy and 4 use goods or services. Individual wants and community wants Goods means the products that persons or communities buy to satisfy their wants. Individual wants consist of the necessities, comforts, and lu
13、xuries of life. Goods that everyone must have, such as food, clothes, and shelter, are called necessities. Goods and services, such as books, telephones, electricity, and gas, which make life easier and more enjoyable, are called comforts. Nonessential high quality goods, such as expensive jewelry,
14、yachts, and customer-built cars, are called luxuries. The needs that arise when people live in groups are referred to as community wants. Communities must have police and fire protection, water system, highways, stores, schools, and banks. Money is exchanged for goods and services. Many years ago tr
15、ade was carried on by barter, which is exchanging one article for 5 another-for example, trading a knife for a pair of shoes. Today we usually pay money for what we want. The exchange of money for goods or services is a business transaction. We need business Business provides us with the things we u
16、se-food, clothes, and many other products and services. Any interruption of essential activities in your community would create much hardship. Few families keep on hand enough food and other essentials for more than a brief period, and any stoppage in the flow of products would result in considerable suffering. Imagine the situation if no railroads or trucks were operating; if there were no deliveries of bread, milk, or othe
