The amount of money business pays for the products it sells or for the raw materials from which it produces goods to sell the amount of money a business pay for the products or for any part of the product it sells.

Individuals or businesses to whom a business owns money or from whom it wants to borrow money.

The quantity of a good or service that buyers are ready to buy at a given price or particular time.

The system in which people make and spend their incomes.

Accomplishing a task with a minimum expenditure of time and effort.

The money that a business spends.

Money left after the cost of goods expense is subtracted from total income.

The money received by resource owners and by producers for supplying goods and services to consumers.

Money left after the cost of goods expense and the operating expense are each subtracted from the total income.

All of the expenses involved in running a business.

A marketing function that involves determining and adjusting to maximum return and meet customers.

Private Enterprise system

An Economic systemin which individuals and groups , rather than the government , own or control the means of production.

Monetary reward a business owner receives for taking the risk involved in investing in a business.

The desire to make a profit , which moves people to invest in a business

Items that are used to accomplish another activity such as producing/ providing goods and services.

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Term	Definition
Cost of goods	The amount of money business pays for the products it sells or for the raw materials from which it produces goods to sell the amount of money a business pay for the products or for any part of the product it sells.
Creditors	Individuals or businesses to whom a business owns money or from whom it wants to borrow money.
Demand	The quantity of a good or service that buyers are ready to buy at a given price or particular time.
Economy	The system in which people make and spend their incomes.
Efficiency	Accomplishing a task with a minimum expenditure of time and effort.
Expenses	The money that a business spends.
Gross profit	Money left after the cost of goods expense is subtracted from total income.
Income	The money received by resource owners and by producers for supplying goods and services to consumers.
Net Profit	Money left after the cost of goods expense and the operating expense are each subtracted from the total income.
Operating expenses	All of the expenses involved in running a business.
Pricing	A marketing function that involves determining and adjusting to maximum return and meet customers.
Private Enterprise system	An Economic systemin which individuals and groups , rather than the government , own or control the means of production.
Profit	Monetary reward a business owner receives for taking the risk involved in investing in a business.
Profit motive	The desire to make a profit , which moves people to invest in a business
Resources	Items that are used to accomplish another activity such as producing/ providing goods and services.
Risk
Suppliers

Created by: user-2018104

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