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SBV list 7-2

entrepreneurship The organization of productive resources by a person willing to take a risk to start a business
initiative A petition process by which a certain percentage of voters can put a proposed constitutional amendment or statute on the ballet for popular approval or rejection or submit a proposed statute to a legislative assembly for approval.
marginal benefit The change in total benefit resulting from an action.
Market clearing price The one price at which quantity supplied equals quantity demanded (also referred to as equilibrium price)
nonrenewable resource A finite natural resource that cannot be replaced once it is used.
perspective A specific point of view in understanding or judging things or events
rights Just claims that belong to a person by law, nature or tradition.
supply The quantities of a good or service that producers are willing and able to provide at various prices during a given time period.
Created by: sbadger