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Details

Chapter 1: Business in Today's World
Vocabulary
10
Business
11th Grade
01/07/2012

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Cards

Term
Needs
Definition

Things that we must

have to survive.

Term
Wants
Definition
Things we wish we could have.
Term
Goods
Definition

Objects you can

weigh or measure.

Term
Resource
Definition

Anything that people can use

to make or obtain what

they want or need.

Term
Opportunity Cost
Definition

Cost of making one choice

over another.

Term
Services
Definition

Tasks people or machines

perform to satisfy wants for nonmaterial things.

Term
Business
Definition
All the activities of an individual or group involved in producing and distributing goods and services.
Term
Ability
Definition
Physical or mental activity that a person performs well.
Term
Aptitude
Definition
Natural talent.
Term
Career Clusters
Definition
Groups of occupations arranged by industry or field.
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