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chapter 2 vocab

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TermDefinition
Corporation a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law
Demographics statistical data relating to the population and particular groups within it.
Economics the study of how people use resources and make decisions about the production, distribution, and consumption of goods and services
Entrepreneur a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so
Fixtures piece of equipment or furniture which is fixed in position in a building or vehicle
Partnership the state of being a partner or partners
Risk the possibility of something bad happening
Scarcity insufficiency or shortness of supply; dearth
Sector an area or portion that is distinct from others
Sole Proprietorship a business owned and operated by one person, with no distinction between the owner and the business
Venture a risky or daring journey or undertaking
Created by: lsnow27
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