Basic Business Vocabulary
Introductory Business Vocabulary
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Topics of this game:
- 1 has a profit motive met by providing goods and services
- 2 items and skills offered by businesses to make a profit.
- 3 TANGIBLE items--you can touch them.
- 4 - skills that are sold and intangible
- 5 quality items we buy more of when income goes up.
- 6 inferior quality items we don’t buy when income is high
- 7 a level of material comfort
- 8 deliver many unaffordable needed services for our society
- 9 A life worth living. Enriched.
- 10. the income generated from sale of goods or services
- 11. Costs are expenses incurred in the ordinary course of business.
- 12. Profit is what is leftover after costs.
- resources Labor Capital$ Entrepreneurship Environment
- 14. responds to change with innovative ideas to meet needs
- 15. used to measure the population that will consume our product.
- 16. study of how we use resources to provide goods and services
- 17 combo of laws and policies allocating products
- 18 free market
- 19 communism and socialism among others
- 20 the study of the economy as a whole
- 21 the economy as it relates to the individual household
- 22 a cycle of economic activity
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