After Considering the Textbook's Definition of Business,how Are Universities and Hospitals

question 49

Multiple Choice

After considering the textbook's definition of business,how are universities and hospitals different from the organizations described?

• A) They typically are not profit-seeking.
• B) They are not affected by the global environment.
• C) Their organizational boundaries are narrower than normal.
• D) They do not produce goods or services.

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Definitions:

Discretionary Income

The portion of a person's income remaining for investment, savings, or expenditures after deducting taxes and essential living costs such as housing and food.

Personal Income

Refers to the total earnings received by individuals, including wages, salaries, bonuses, and income from investments.

Discretionary Income

the portion of an individual's income available for spending after the essentials (like food, shelter, and clothing) have been taken care of.

Household Budget

An estimation of revenue and expenses over a specified period for a home, serving as a plan for personal financial management.