Lesson 3.2 Glossary

What is the ability of a computer or other machine to perform activities that are normally thought to require intelligence?

• Artificial Intelligence

• Machine Learning

• Data Processing

• Cloud Computing

Chronological means:

• In order of time

• In alphabetical order

• Randomly

• In reverse order

What are living expenses?

• Costs for basic needs like housing, food, and transportation

• Expenses related to luxury items and vacations

• Investments and savings for future use

• Taxes and insurance premiums

A resume is a document that:

• lists a person's education, work experience, and skills

• is used to apply for loans

• contains personal opinions and stories

• is a legal document for identification

What is the value of owner labor and management efforts to the business called?

• Owner's Equity

• Net Profit

• Opportunity Cost

• Implicit Cost