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3.1 Economics Vocab

Economics in SE Matching Vocab

TermDefinition
Profit A financial gain; when revenue is greater than expenses
Profit motive the reason businesses strive to make money - it drives decision making and innovation
revenue stream a source of income for a business (ticket sales, merchandise, sponsorships)
economics the study of how people and businesses make choices about using limited resources
economic impact the effect that an event of business has on a local or national economy
loss when expenses are greater than revenue
scarcity when resources are limited and not enough is available to meet demand
economic utility the value a product or service has for a consumer based on how it satisfies their needs or wants
Created by: user-1988609
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