Section 1
Help!
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| Free Enterprise System | A system in which individuals are free to produce the goods and services they choose.
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| Profit | The amount earned above the amount of expense incurred for payment.
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| Loss | The result when a business spends more money than it earns.
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| Entrepreneur | A person who transforms ideas for products or services into real-world businesses
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| Capital | Money supplied by investors, banks, or owners of a business.
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| Service Business | A business that provides a needed service for a fee.
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| Merchandising Business | A business that buys finished goods and resells them to individuals or other businesses.
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| Manufacturing Business | A business that buys raw materials and transforms them into finished products by using labor and machinery.
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| Sole Proprietorship | A business owned by one person.
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| Partnership | A business as co-owned by two or more persons, called partners, who agree to operate the business as co-owners.
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| Corporation | A business organization recognized by law to have a life of its own
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| Charter | The legal permission, granted by a state, that gives a corporation certain rights and privileges and spells out the rules under which the corporation is to operate.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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