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Mckeel Eteam tryouts
buisness Vocab
| Question | Answer |
|---|---|
| advertisement | the method by wich buisnesses make their product known to the consumers, provides info about the goods or services the producer or distributor wishes to be known |
| balance | the amount of money in ones bank account |
| barter | the direct trade of services or goods between people without the use of money |
| buisness | a basic economic unit; takes part in the buying of and hiring of resources to produce a product with the intention of making a profit for the owner(s) |
| choice | someting one must make when facing 2 alternitive uses for a resource |
| compare | to examine for similarities and differances. |
| conservation | the wise use of natural resources |
| consumers | people or buisnesses whos needs and wants are satisfied by using goods or services. those who buy and make final use of the goods or services |
| criteria | standards used in making a decision |
| demographics | statistical characteristics of a population such as age, income, gender, ecct. |
| distribution | the part of the productive process when the goods are tranported to a geographical point where it can be used to satisfy the wants and needs of the consumers. |
| economic systems | the way a society organizes the production, consumption, and distribution of goods and services |
| entreprenouer | one who organizes and manages recources- including labor- to produce goods or services and assumes the risk of a buisness for the sake of a possible profit |
| goods | objects that can be touched or held to satisfy peoples wants |
| import | buying from another country |
| installment | required payments of equal amounts, every month until the loan is paid in full |
| inventory | the supply of a product or products that the buisness has "on hand" |
| loss | the negative difference between the cost and sales price |
| merchandise | the goods that someone wants to sell |
| mint | the facility where coins are made |
| Mortgage | a loan secluded by real estate |
| Net income | the actual amount of money recieved after taxes and other payroll deductions have been subtracted from the gross income |
| price | the value of goods or services in money terms |
| quality | the degree of excellence |
| quantity | the amount of a product |
| Resume | a summary of a persons education, experience and work skill used when searching for a job |
| shortage | the situation resulting when the quantity demanded exceeds the quantity supplied of a good, service, or resource |
| tax | required payment taken from households and buisnesses by the goverment to be used for public goods and services |
| trade | the purchase, sale, or exchange of goods and services |
Created by:
skrat
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