CE 11 VOCAB

A person who starts up and takes on the risk of a business

• Entrepreneur

• competition

• Resources

• Scarcity

characterized by the taking of financial risks in the hope of profit; enterprising.

• import

• Corporation

• profit

• Entrepreneurial

earnings after all expenses have been paid

• consumer sovereignty

• profit

• Choice

• production

which one is the right answer

• this one is the right answer

• no this one is

• I am

• don't listen to them choose me, i am the right answer

rivalry between producers and/or sellers

• global economy

• supply and demand

• competition

• Partnership

consumers determine through purchases what will be produced

• consumer sovereignty

• Entrepreneurial

• Entrepreneur

• Partnership

the interaction of supply and demand

• Economy

• Price

• demand

• supply

the amount of a good or service that consumers are willing and able to buy at a certain price

• supply

• import

• demand

• Resources

the amount of a good or service that producers are willing and able to sell at a certain price

• Price

• demand

• Partnership

• supply

A business owned by stockholders who share in its profits but are not personally responsible for its debts

• Corporation

• proprietorship

• Partnership