Business Essentials
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| Alternative resource | A resource that can be used in place of another
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| Automation | A method or controlling a process in which tasks are completed by automatic means, such as technology, reducing human effort and labor
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| Baby Boomers | A term used to refer to individuals who were born between 1946 and 1964
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| Capital goods | Manufactured or constructed items that are used to produce goods and services
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| Conserve | To slow down use of something to make its supply last longer than it would otherwise
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| Consumer goods and services | Products produced for personal consumption
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| Demographics | Information used to describe a population
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| Economic resources | The human and natural resources and capital goods used to produce goods and services; also known as factor of production
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| Employee assistance program | A project organized and sponsored by a company to help its employees
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| Entrepreneurs | People who assume the risk of starting and operating business
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| Entrepreneurship | Staring and building a business
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| Factors of production | Productive resources; and human natural resources and capital goods; also known as economic resources
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| Financial capital | Money needed to operate a business
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| Flextime | A scheduling procedure in which employees select their own working hours as long as they work their required number of hours
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| Fossil fuels | Nonrenewable, carbon based energy sources formed underground from the remains of plants and animals
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| Generation X | A term used to refer to individuals who were born between the years 1965 and 1980; also known as gen X
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| Generation Y | A term used to refer to individuals who were born between the years of 1981 and 1995; also known millennials
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| Human resources | People who work to produce goods and services
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| Inventory | Stock of goods
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| Just-in-time inventory | An Inventory method in which goods are ordered so that they arrive when they are needed rather than being stockpiled
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| Natural recourses | The people who make or provide goods and services
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| Production | The economic process or activity of producing goods and services
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| Raw materials | Items in their natural state or condition
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| Shared time | When two employees share the responsibility for one full- time position
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| Stock piling | Maintaining a large inventory
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| Technology | Scientific applications to business objectives or methods used to attain those objectives
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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.
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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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