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business flash cards
s=flash cards for the business finals
| Term | Definition |
|---|---|
| Liabilities | What a company owes. |
| consumer | a person who buys something. |
| budget surplus | when the government spends less money then it takes in. |
| exchange rate | comparing how much each countries currency is worth |
| Wholesaler | a store that sells a large amount of items for a reasonable price. |
| natural resources | raw materials supplied by nature |
| organized chart | a chart that shows how a business is structured and who is in charged |
| sole proprietorship | a business that you own by yourself |
| corporation | a group of people that make up a business |
| partnership | when to or more businesses work together |
| nonprofit | a business that does not make any money but supports a good cause |
| supply | the stock of a resource. |
| demand | how much the consumer wants |
| quantity | how much of a product a company have in total |
| import | a good that we bring into a country |
| export | a good that we send to another country |
| human resources | people that make up the work force |
| consumer resources | are experts who help consumers make good decisions |
| capital resources | are goods produced to make other goods |
| command economy | the government controls the economy |
| market economy | a economy controlled by supply and demand |
| traditional economy | they follow their ancestors footsteps |
| mixed economy | a economy that is controlled by the people |
| economic questions | what should we produce how should we produce it for whom should we produce it |
| depression | the lowest point |
| recession | a decrease in economy |
| recovery | a economic comeback |
| prosperity | the highest point in the economy |
Created by:
victor arreola
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