Difference between a good and a service

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Reference no: EM133370322 , Length: 3 Pages

Assignment:

1. Write two to three page paper. Pretend you are an entrepreneur selling a good or a service. Briefly describe your product and then, using your business as an example, explain the following:

2. What is the difference between a good and a service?

3. How do businesses make money (use the R-E=P equation)?

4. What is the relationship between risk and reward and where do you stand on the risk-reward continuum?

5. What is the definition of "stakeholder" and name 3 stakeholders for your business, What is the definition of outsourcing and would you outsource a portion of your business, why or why not?

R=Revenue E=Expenses P=Profit

Reference no: EM133370322

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