Shared Flashcard Set

Details

Biz Town
Terms
9
Business
6th Grade
09/24/2012

Additional Business Flashcards

 


 

Cards

Term

 

 

 

 

Public Goods and Services

Definition

 

 

 

Free Goods and Services

that provide benefits to many people,

People may not be restricted from using them.

Term

 

 

 

Examples of Goods and Services

Definition

 

 

Parks

Roads

Fire Stations

Police stations

Schools

Re-cycling centers

Term

 

 

 

 

Private Goods and Services

Definition

 

 

 

Goods and Services

exchanged in the market

for a price,

Term

 

 

 

 

 

Taxes

Definition

 

 

 

 

 

Required payments to the Government

Term

 

 

 

 

Philanthropy

Definition

 

The effort to increase the well-being of people

through charitable giving.

 

Wealth - (Giving money)

Work - (Volunteering to help)

Wisdom - (Giving knowledge)

Term

 

 

 

 

 

Non-Profit Organizations

Definition

 

 

Institutions

developed to increase the well being of others

in certain areas, such as

Education

and other good reasons.

Term

 

 

 

 

 

Examples of Nonproit organizations...

Definition

Cancer Society

Fire Department

Good Will

Helping Hands

Historical Society

Juniour Achievement

Red Cross

Salvation Army

SPCA

YMCA

Term

 

 

 

 

Opportunity Cost

Definition

 

 

The value

of the next best alternative given up

when a choice is made. 

 

Term

 

 

 

Freedoms that occur within a

Free Enterprise system

Definition

 

Freedom to own property.

 

Freedom to buy and sell goods and services.

 

Freedom to invest money into a business and to earn profit.

 

Freedom to choose where and how to work.

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