Term
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Definition
| a person or business that makes goods or provides services |
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Term
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Definition
| work done for others, like haircuts or car repairs |
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Term
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Definition
| a person who buys goods or services |
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Term
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Definition
| rivalry between two or more businesses striving for the same customer |
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Term
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Definition
| the amount of money left after all business expenses have been paid |
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Term
free market economy
[image] |
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Definition
| a system in which goods and services are bought and sold freely with little government interference |
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Term
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Definition
| items that can be bought or sold |
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Term
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Definition
| an improvement of an existing product or method |
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Term
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Definition
| the discussion between a potential employee and employer to help decide if a job is a good match |
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Term
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Definition
| the things you like and enjoy |
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Term
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Definition
| the next best alternative given up when making a choice |
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Term
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Definition
| the process of buying and selling |
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Term
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Definition
| written or spoken exchanges between people to share information |
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Term
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Definition
| people who work for businesses |
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Term
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Definition
| personal attributes and abilities that are needed in most jobs |
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Term
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Definition
| choosing to focus production on one or a few products |
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Term
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Definition
| the innovative thinking needed to start and operate a business |
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Term
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Definition
| a grouping of jobs and industries related by skills or products |
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Term
high-growth, high-demand jobs
[image] |
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Definition
| jobs projected to add large numbers of employees to the workforce |
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Term
natural resources
[image] |
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Definition
| things a business needs that occur naturally, such as air, water, minerals, and trees |
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Term
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Definition
| a person who takes a risk to start a business with the intent of earning a profit |
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Term
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Definition
| things businesses use to produce goods and services |
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Term
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Definition
| the ability to do something well |
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Term
capital resources
[image] |
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Definition
| buildings, tools, machines, and money the businesses use to make products |
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Term
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Definition
| people who do the work a business needs |
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Term
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Definition
| the use of machinery, equipment, and processes |
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