In this chapter, we look briefly at what business is and how it got that way. First, we explore some important reasons for studying business. Then we define business , noting how business organizations satisfy needs and earn profits. Next we go back into American history for a look at the events that helped shape today's business system. We conclude this chapter with a discussion of the challenges that businesses face.
Today there are many businesses that offer products and services in the marketplace.
Now that you have an overview of the chapter, take the practice test to see how much you need to study. Copyright Houghton Mifflin Company . All Rights Reserved.