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SBV list 3-2

QuestionAnswer
benefit That which is received as an improvement or advantage as the result of a decision.
comparative advantage The ability to produce goods or services at a lower opportunity cost than other individuals or countries
cost An alternative given up as the result of a decision
cultural practice A pattern of behavior accepted by society.
entrepreneur An individual who organizes the use of productive resources to produce goods or services.
marginal cost The change in total benefit resulting form an action.
multinational corporation A large corporation that produces and sells its goods and services throughout the world
want A psychological or physical desire that can be fulfilled through the consumption of goods and services
Created by: sbadger
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