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1.01 terms

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