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B 202
EC-903
| Term | Definition |
|---|---|
| Alternative Resources | A resource of operating can be used in place of another |
| Automation | A method of operating or controlling a process in which tasks are completed by automatic means, such as technology, reducing human effort and labor |
| Baby Boomers | A term used to refer to individuals who were born between the years 1946 and 1964 |
| Capital Goods | Manufactured or constructed items that are used to produce goods and services |
| Consumer goods and services | Products produced for personal consumption |
| Conserve | To slow down the use to make last for longer periods of time |
| Demographics | Info used to describe a population |
| Employee assistance program | A project organized and sponsored by a company to help its employees |
| Entrepreneurs | People who assume the risks of starting and operating businesses |
| Entrepreneurship | Starting and building a business |
| Factors of production | Productive resources; human and natural resources and capital goods; also know as economic resources |
| Financial capital | Money needed to operate business |
| Flextime | A scheduling procedure in which employees select their own working ours as long as they work the required number of hours |
| Fossil Fuels | Non renewable, carbon-based energy sources formed underground from the fossilized remains of plants and animals |
| Gen X | A term referred for those who where born between 1965 and 1980 |
| Gen Y | A term referred for those who where born between 1981 and 1995 also called millennials |
| Human resources | People who work to produce goods and services |
| Inventory | Stocks of goods |
| Just in time inventory | An inventory method in which goods are are ordered so that they arrive when they ae needed rather that being stockpiled |
| Natural resources | Items that are found in nature and used to produce goods and services |
| Non-renewable resources | Natural resources that may become entirely depleted |
| Producers | The people who make or provide goods and services |
| Production | The economic process or activity of producing goods nd services |
| Raw material | Items in their natural state or condition |
| Resources owners | Those who provide human resources, natural resources, and capital goods in order for production to take places |
| Shared time | When two employees share the responsibility for one full-time position |
| Stockpiling | Maintaining a large inventory |
| Technology | Scientific applications to business objective or the methods used to attain those objectives |
| --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
Created by:
Josue.r991
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