Running a Business in the Community Vocabulary

Obtaining money by providing goods, services, or collecting interest.

• budget

• spending

• earning

• profit

Giving someone money in exchange for goods or services.

• spending

• donating

• free enterprise system

• expense

Setting aside money for future use.

• entrepreneur

• scarcity

• budget

• saving

Giving money to a person or organization without gaining goods or services in return.

• spending

• donating

• profit

• overconsumption

A plan for managing a person's income and expenses.

• budget

• scarcity

• expense

• saving

An economic system where people have freedom as both consumers and producers.

• entrepreneur

• profit

• free enterprise system

• budget

The money a person gets from selling goods or providing services.

• earning

• expense

• profit

• income

The money made by a business after paying all expenses.

• profit

• scarcity

• income

• expense

A shortage of a resource that is in demand.

• overconsumption

• scarcity

• profit

• free enterprise system

A cost a person has for a good or service he/she buys.

• overconsumption

• expense

• profit

• spending