February 2016
Beginner to intermediate
500 pages
33h 40m
English
A firm may be owned by a government, by other firms, by private individuals, or by some combination. A country’s legal and governmental system affects whether firms are privately owned, how owners run firms, and whether or not they pursue profits.
Atheism is a non-prophet organization.
—George Carlin
Firms operate in the private sector, the public sector, or the nonprofit sector. The private sector—sometimes referred to as the for-profit private sector or for-profit sector—consists of firms that are owned by individuals or other nongovernmental entities and whose owners may earn a profit. Most of the firms that we discuss throughout this book—such as Apple, Nike, and Toyota—belong ...