 | Term | Definition |
| |
business |
an enterprise which organizes and uses resources to do stuff for the general public |
| |
capital |
things made that are used to make other things |
| |
consumer |
a buyer of a good or service |
| |
corporation |
a stockholder owned business |
| |
cost |
something someone must give up to get something else |
| |
demand |
the need of a good or service at a specific time |
| |
dividend |
profit a stockholder get |
| |
economics |
the study of a persons use of recources to meet their needs |
| |
employee |
someone hired to work for employer or business |
| |
employer |
somone who hires people |
| |
entrepreneur |
a business starter |
| |
free enterprise system |
the right to make and own your own business |
| |
investment |
using money to buy buildings and machines to use in a business |
| |
labor |
work to make something |
| |
land |
gift of nature |
| |
management |
someone who organizes the production of a business |
| |
market |
when buyers and sellers communicate and exchange goods and services |
| |
marketable |
an available good or service |
| |
production |
the act of making goods and services |
| |
profit |
the amount of money left over after all expences and sales |
| |
resource |
anything that relieves a persons want |
| |
scarcity |
a time when productive resources don't meet a humans wants |
| |
specialization |
a worker doing a small part of a job so the product come faster |
| |
stockholder |
a part owner of a business |
| |
supply |
how much producers will provide the market at a given price |
| Add or remove terms from this set |
