Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Unit 1 Vocabulary
| Term | Definition |
|---|---|
| Aptitude | the ability to learn a particular kind of job |
| Brainstorming | a creative group problem-solving technique that involves generating a large number of fresh ideas |
| Capitalism | the private ownership of resources by individuals rather than by the government |
| Command Economy | the government determines what, how, and for whom products and services are produced |
| Consensus | an agreement among a group of people |
| Demand | an individual's need or desire for a product or service at a given price |
| Employees | people who work for someone else |
| Entrepreneurs | people who own, operate, and take the risk of a business venture |
| Entrepreneurship | the process of running a business of one's own |
| Equilibrium price and quantity | the point at which the supply and demand curves meet |
| Free Enterprise System | an economic system in which people have the right to make choices of what to buy, whether to own private property, or whether to start a business and compete with other businesses (market economy) |
| Functions of Business | production, marketing, management, and finance |
| Market Economy | individuals decide what, how, and for whom goods and services are produced |
Created by:
nikkivanwilpe
Popular Management sets