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BizTown Vocabulary
key ubiquitous terms from curriculum
11
Business
5th Grade
10/27/2014

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Cards

Term
citizen
Definition
a person in a community, town, city, county or parish who has both rights and responsibilities
Term
free enterprise
Definition
a system where decisions are made in markets and people are allowed to start and run their own business with little government interference
Term
economy
Definition
the science of how all the businesses and services interact in a society
Term
responsibility
Definition
the requirements, what a person has to take care of in their job and life
Term
ethics
Definition
the standards that determine what is right, honest, fair and correct in medicine and business and life
Term
property
Definition
what someone owns
Term
business
Definition
an organized way (company)of making money by providing either goods or services
Term
profit
Definition
the money that is left over after a business pays all its costs
Term
resources
Definition
things and people used to produce goods and services
Term
service
Definition
a job that someone does to help people in some way
Term
taxes
Definition
required payment to government
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