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C.O Unit 7 Vocab
Unit 7 C.O. vocab
Question | Answer |
---|---|
Business plan | a description of the goals of a business and how it will operate |
Competition | when two or more companies rival for consumer dollars |
Consumer | someone who purchases a good or service with the intent to use it |
Corporation | business owned by many people but treated by the law as though it were one person |
Entrepreneur | a person who organizes, manages, and assumes the risk of a business |
Laws of supply and demand | economic rules which influence consumer buying decisions |
Partnership | business which two or more people own and operate |
Persistent | continuing for a long period of time to accomplish a task |
Producer | someone who creates a good or service |
Risk | possibility of loss |
Sole proprietorship | business owned by one person |
Stock | a share of the ownership in a company |
Stockholder | a person who owns stock in a company |