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the branch of social science that deals with the production and distribution and consumption of goods and services and their management
free enterprise system
an economic system in which people are free to operate their businesses as they see fit, with little government interference
money that is left after all the expenses of running a business have been deducted from the income
factors of production
resources of land, labor, capital, and entrepreneurship used to produce goods and services
specially designated areas of a community that provide tax benefits to new businesses locating there and grants for new product development
resources an entrepreneur needs to have when starting a business, including capital, skilled labor, management expertise, legal and financial advice, a facility, equipment, and most imprtantly, customers
a business that files bankruptcy and loses money for creditors, the people who lent them money, and their investors
a business that is operating under a new name or a business that has been purposely discontinued
the buildings, equipment, tools, and other goods needed to produce a product, or the money used to purchase these items
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