Related questions with answers
Think of an example of each of these vocabulary terms in everyday life.
Content Vocabulary:
- Private enterprise
- Patent
- Trademark
- Copyright
- Competition
- Price competition
- Nonprice competition
- Monopoly
- Business risk
- Profit
- Supply
- Demand
- Domestic business
- Global business
- For-profit business
- Nonprofit organization
- Public sector
- Private sector
- Industry
- Derived demand
- Wholesalers
- Retailers
- Production
- Management
- Finance
- Accounting
Academic Vocabulary:
- Purchase
- Interact
- Trend
- Generate
Solution
Verified
Private enterprise -businesses owned by ordinary civilians, not the government.
Patent - the right to sole ownership of an idea or particular intellectual property.
Trademark - an icon, name or symbol that is used to identify a company or organization.
Copyright - the ownership of intellectual property that has been authored by an individual such as books, movies or music.
Competition - the process by which companies try to convince customers to purchase their products over competitors.
Price competition - a means by which businesses attempt to attract customers by offering lower prices than competitors for the same quality of goods.
Nonprice competition - factors other than price that business may use to make themselves more appealing to customers.
Monopoly - exclusive control over a product by one company.
Business risk - the potential for a business to lose money or fail.
Profit - money earned from revenues after the cost of expenses have been paid.
Supply - the quantity of goods producers are willing to create.
Create a free account to view solutions
Create a free account to view solutions
Recommended textbook solutions

Glencoe Marketing Essentials, Student Edition
1st Edition•ISBN: 9780021401109McGraw-Hill Education

Statistics for Business and Economics
14th Edition•ISBN: 9781337901062 (1 more)David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams
Cambridge IGCSE Business Studies
4th Edition•ISBN: 9781444176582Karen Borrington, Peter StimpsonMore related questions
1/4
1/7