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Business essentials

TermDefinition
Alternative resource A resource that can be used in place of another
Automation A method of operating or controlling 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 service
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 capital goods used to produce goods and services, also known as factors of production
Employee assistance program A project organized and sponsored by 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 known as economic 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 hours
Fossil fuels Nonrenewable carbon-based energy sources formed underground from the fossilized remains of plans and animals
Generation X Aterm used to refer to individuals who were born between the years 1965 and 1980 also known as the Gen X
Created by: user-1964965
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