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1.01 terms

profit money made off business
profit motive working to gain something
competition contest between business to win a customer
needs something you have to have to survive
wants things you don't need but think it would be nice to have
consumer person who uses goods or services
goods item that can be physically weighed or measured
services task that a business preforms for customers
sole partnership business owned by one person
partnership business owned be 2 or more people
franchise a business owned by parent company
non profit organization there to provide service instead of make profit
corporation business considered seperate from the owner by law
multinational corporation company that has many faculties
accounting recording and reporting data
management leading a company
marketing creating and recording and reporting data
info technology developing and installing with technology
human resources
oppertunity costs
Created by: baileywilson