| Term | Definition |
| entrepreneur | one who owns, operates, and takes the risk of a business venture |
| entrepreneurship | the process of running one's business |
| employee | people who work for someone else |
| manufacturing business | produce the products they sell |
| retailing business | sell products directly to the people who use them |
| wholesaling business | sell products to people other than the final customer |
| service business | sell a service rather than product |
| agricultural business | generates fresh produce and farm products |
| mining business | take resources out of the ground to be consumed |