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BE B 202
EC-903
| Term | Definition |
|---|---|
| Alternative resource | a resorce a resource that can be used in place of anothe |
| Automation | A method of operating or controlling a process in which tasks are completed by automatic means, such as technology, reducing human effort and labr |
| Baby boomers | A term used to refer to individuals who were born between the years 1946 andm1964 |
| Capital goods | manufactured or constructed items that are used to produce goods and services |
| Conserve | to slow down the use of something to make its supply last longer than it would otherwise |
| consumer goods and services | products produced for personal consumption |
| Demographics | Information used to describe a population |
| Economic resources | THe human and natural resources and capitol goods used to roduce goods and services; also known as factors of production |
| Employee assitance program | A project organized and sponsored by a company to help its employees |
| Entrepreneurs | people who assume the risk of starting and operating a business |
| Entreprenurship | starting and buildin a business |
| factors off production | productive resources; human and natural resources and capitol goods; also known as econmic resources |
| financial capital | money needed to operate a business |
| flextime | A scheduling procedure in which employees select their own working hours as long as they work the required number of hhours |
| Fossil fuels | Nonrenewable, carbon- based energy sources formed underground fromthe fossilized remains of plants and animals |
| Generation X | A term used to refer to individuals who were born between the years 1965 and 1980; also known as gen x |
| Generation Y | A term used to refer to to individuals born between the years 1981 and 1995; also known as millennials |
| Human resources | People who work to produce goods and services |
| Inventory | Stock of goods |
| Just- in- time inventory | an inventory method in which goods are ordered sot hat they arrive when they are needed rather than being stockpiled |
| Natural resources | items that are found in nature and used to produce goods an services |
| non renewable resources | Natural resources that may become entirly spleted; natural resource that cannot be replenished after use |
| Producer | the people who make or provide goods and services |
| Production | the economic process or activity of producing goods and services |
| Raw materials | items in their natural state or condition |
| resource owners | those who provide human resources, natural resource, and capital goods in order for production to take place |
| Shared time | when two employees share the responsibility for one full-time position |
| Stockpiling | Maintaining a large inventory |
| Technology |
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trinity.l382
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