General Business

......... are things that you do not have to have to survive, but would like to have.

• Needs

• Wants

• Goods

• Services

....... are tasks that business perform for consumers.

• Goods

• Resources

• Services

• Wants

….. are all the economic resources necessary to produce a society’s goods and services.

• Factors of Production

• Scarcity

• Labor Resources

• Capital Resources

Economics is the study of how individuals and groups of individuals strive to satisfy their….by making choices.

• Opportunities

• Amount of income

• Wants and needs

• Amount of labor

…. are people who make the goods and services for which they are paid. 

• Capital Resources

• Natural Resources

• Labor Resources 

• Entrepreneurial Resources

A….is an economic system in which economic decisions are made in the marketplace. 

• Economic Systems

• Market Economy

• Economics 

• Mixed Economies

Profit is money .... after a business has paid the cost  of providing its goods and services.

• Back up

• Left over

• Cut in

• Letdown

A/An...........is a person who recognizes a business opportunity and organizes, manages, and assumes the risks of starting and operating a business.

• Entrepreneur

• Entrepreneurship

• Venture

• Dot-com company

A small business serves a limited geographic area and employs fewer than....people

• 400

• 500

• 600

• 700

A….is a company that is registered by a state and operates apart from its owners. 

• Corporation

• Partnerships

• Sole Proprietorships

• Manufacturers