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BE 204

Business Enterprise Study Stack

Capital goods Manufactured or constructed items that are used to produce goods and provide services
Competition The rivalry between two or more businesses to attract scarce customer dollars
Economic resources The human and natural resources and capital goods used to produce goods and services
Economic system The organized way in which a country handles its economic decisions and solves its economic problems
Entrepreneur An individual who: invents, develops, and distributes a good or service; assumes the risks if starting and building a business; and receives personal and financial rewards for her/his efforts
Human resources People who work to produce goods or services
Market economy An economic system in which the questions of what, how, and whom goods will be produced are answered by individuals and businesses in the market place
Marketplace Anywhere the buying and/or selling of goods and services takes place
Mixed system An economic system in which individuals make
Created by: user-1969137
 

 



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