Free enterprise system
Encourages individuals to start and operate their own businesses in a competitive system, without governemnt involvement
You alone own the rights to that idea or item.
A word, name, symbol, sound, or color that identifies a good or service that cannot be used by anyone but the owner.
Anything that is authorized by an individual such as writings, music, and artwork.
Struggle for customers
The sale price of a product; the assumption is that consumers will buy the product with the lowest price.
Competition based on factors that are not related to price, such as product quality, service, and financing, business location and reputation.
Exclusive control over a product or the means of producing it.
Possibility of financial loss
The money earned from conducting business after all costs and expenses have been paid
The amount of goods producers are willing to make and sell.
Consumer willingness and ability to buy to products