Terms in this set (...)
Supply and Demand
the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.
The act or process of producing
Control/ management of available labor pool involving time and attendance and scheduling of employees.
a market in which securities are bought and sold.
practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium.
The profit motive is an economic concept which posits that the ultimate goal of a business is to make money.
measure of the benefit that an economic actor can gain from either a good or service
the exclusive possession or control of the supply or trade in a commodity or service.
an economic system in which private business operates in competition and largely free of state control.
5.02 Vocabulary Test
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