large company or group of companies authorized to act as a single entity and recognized as such in law:

statistical data relating to the population and particular groups within it:

the social science that studies how people make choices about wealth, resources, and markets

a person who sets up a business or businesses, taking on financial risks in the hope of profit:

tangible items that are permanently attached to a building or property and primarily benefit the business operations rather than the property itself.

formal arrangement where two or more individuals or entities join together to operate a business, sharing profits, losses, and responsibilities.

the potential for internal or external events to disrupt operations, reduce profitability, or threaten a company’s ability to achieve its objectives.

the gap between limited resources and unlimited wants, compelling businesses to make strategic decisions about allocation, pricing, and operations.

distinct segment of the economy comprising companies or industries engaged in similar economic activities, producing goods or providing services.

an unincorporated business owned and operated by a single individual, where the owner and the business are legally the same.

a risky or daring journey or undertaking:

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BO Chapter 2

Question	Answer
Corporation:	large company or group of companies authorized to act as a single entity and recognized as such in law:
Demographics:	statistical data relating to the population and particular groups within it:
Economics:	the social science that studies how people make choices about wealth, resources, and markets
Entrepreneur:	a person who sets up a business or businesses, taking on financial risks in the hope of profit:
Fixtures:	tangible items that are permanently attached to a building or property and primarily benefit the business operations rather than the property itself.
Partnership:	formal arrangement where two or more individuals or entities join together to operate a business, sharing profits, losses, and responsibilities.
Risk:	the potential for internal or external events to disrupt operations, reduce profitability, or threaten a company’s ability to achieve its objectives.
Scarcity	the gap between limited resources and unlimited wants, compelling businesses to make strategic decisions about allocation, pricing, and operations.
Sector:	distinct segment of the economy comprising companies or industries engaged in similar economic activities, producing goods or providing services.
Sole Proprietorship:	an unincorporated business owned and operated by a single individual, where the owner and the business are legally the same.
Venture:	a risky or daring journey or undertaking:

Created by: Gjimenez27

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