oses
understanding
BUSINESS
understanding tenth edition
BUSINESS
William G. Nickels
University of Maryland
James M. McHugh
St. Louis Community College at Forest Park
Susan M. McHugh
Applied Learning Systems
UNDERSTANDING BUSINESS
Published by McGraw-Hill/Irwin, a business unit of The McGraw-Hill Companies, Inc., 1221
Avenue of the Americas, New York, NY, 10020. Copyright © 2013, 2010, 2008, 2005, 2002, 1999,
1996, 1993, 1990, 1986 by The McGraw-Hill Companies, Inc. All rights reserved. Printed in the
United States of America. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning.
Some ancillaries, including electronic and print components, may not be available to customers outside the United States.
This book is printed on acid-free paper.
1 2 3 4 5 6 7 8 9 0 DOW/DOW 1 0 9 8 7 6 5 4 3 2
ISBN 978-0-07-352459-7
MHID 0-07-352459-X
Vice president and editor-in-chief: Brent Gordon
Editorial director: Paul Ducham
Executive director of development: Ann Torbert
Development editor II: Kelly L. Delso
Vice president and director of marketing: Robin J. Zwettler
Marketing director: Amee Mosley
Senior marketing manager: Sarah Schuessler
Vice president of editing, design, and production: Sesha Bolisetty
Lead project manager: Christine A. Vaughan
Senior buyer: Carol A. Bielski
Lead designer: Matthew Baldwin
Senior photo research coordinator: Jeremy Cheshareck
Photo researcher: Jen Blankenship
Lead media project manager: Brian Nacik
Typeface: 10/12 New Aster
Compositor: Laserwords Private Limited
Printer: R. R. Donnelley
Library of Congress Cataloging-in-Publication Data
Nickels, William G.
Understanding business / William G. Nickels, James M. McHugh,
Susan
BUSINESS
understanding tenth edition
BUSINESS
William G. Nickels
University of Maryland
James M. McHugh
St. Louis Community College at Forest Park
Susan M. McHugh
Applied Learning Systems
UNDERSTANDING BUSINESS
Published by McGraw-Hill/Irwin, a business unit of The McGraw-Hill Companies, Inc., 1221
Avenue of the Americas, New York, NY, 10020. Copyright © 2013, 2010, 2008, 2005, 2002, 1999,
1996, 1993, 1990, 1986 by The McGraw-Hill Companies, Inc. All rights reserved. Printed in the
United States of America. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning.
Some ancillaries, including electronic and print components, may not be available to customers outside the United States.
This book is printed on acid-free paper.
1 2 3 4 5 6 7 8 9 0 DOW/DOW 1 0 9 8 7 6 5 4 3 2
ISBN 978-0-07-352459-7
MHID 0-07-352459-X
Vice president and editor-in-chief: Brent Gordon
Editorial director: Paul Ducham
Executive director of development: Ann Torbert
Development editor II: Kelly L. Delso
Vice president and director of marketing: Robin J. Zwettler
Marketing director: Amee Mosley
Senior marketing manager: Sarah Schuessler
Vice president of editing, design, and production: Sesha Bolisetty
Lead project manager: Christine A. Vaughan
Senior buyer: Carol A. Bielski
Lead designer: Matthew Baldwin
Senior photo research coordinator: Jeremy Cheshareck
Photo researcher: Jen Blankenship
Lead media project manager: Brian Nacik
Typeface: 10/12 New Aster
Compositor: Laserwords Private Limited
Printer: R. R. Donnelley
Library of Congress Cataloging-in-Publication Data
Nickels, William G.
Understanding business / William G. Nickels, James M. McHugh,
Susan