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Chapter 4: Motivations of Business
Vocabulary
6
Business
11th Grade
01/30/2012

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Term
private enterprise system
Definition
private rather than public; businesses owned by individual and groups instead of government
Term
motivation
Definition
forces that cause action
Term
competition
Definition
contest between businesses to win customers
Term
profit
Definition
amount of money left over after a business has paid for the cost of producing its goods or services
Term
social responsibility
Definition
the idea that businesses act in a responsible and fair way toward their employees and society as a whole
Term
green products
Definition
items produced with less negative impact on the environment than competing products
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