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| A business that is owned and operated by one person and this person is responsible for all risks |
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| A government owned corporation and provide a SPECIAL service to the public |
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| A legal entity that exist s independently of its owners (shareholders) |
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| A pattern of gradual change in a condition, output, or process, or an average or general tendency of a series of data points to move in a certain direction over time, represented by a line or curve on a graph. |
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| All business activities used to plan, price , promote and distribute goods or services to satisfy consumer needs and wants |
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| Any item or product that you can purchase or use |
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| Consumers and producers depend on each other (e.g. Consumers need producers to manufacture and supply goods and services and producers need consumers to buy the goods and services they manufacture. |
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| Consumers and producers depend on each other (e.g. Consumers need producers to manufacture and supply goods and services and producers need consumers to buy the goods and services they manufacture. |
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| Consumers and producers depend on each other (e.g. Consumers need producers to manufacture and supply goods and services and producers need consumers to buy the goods and services they manufacture. |
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| No restrictions on number of shareholders, and shares sold to public |
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| Represent the consumer side of a market where how much they want for a product direct relates to the price |
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| Someone who makes a good or service and provides it to consumers |
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| Standards of conduct that society believes people should follow |
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| The people who buy shares in a company and are all part owners (share in profits) |
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| The people who buy shares in a company and are all part owners (share in profits) |
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| The whole economy slows down and business no longer creates as much wealth as in prosperity |
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| When the market demands a high quantity of a good or service, the prices for that good or service will be high. When the market demands a low quantity the prices will be low |
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| a business owned and operated by a group of people with strong common interests |
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| a business situation in which a provider of goods or services is more profitable or efficient than all of its competitors, by having a smaller total input per unit of output |
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| a concepts economists use to describe the point where the forces of supply and demand are balanced |
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| factors and elements like land , capital, labour, information and entrepreneurship that effect production |
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| factors and elements like land , capital, labour, information and entrepreneurship that effect production |
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| one the fastest growing forms of business ownership. When someone sells someone else the rigts to a business name and product or service in a territory |
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| one the fastest growing forms of business ownership. When someone sells someone else the rigts to a business name and product or service in a territory |
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| the difference between the values of exports and imports of a country, said to be favorable or unfavorable as exports are greater or less than imports. |
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| those who share ownership in a corporation is only liable for the company’s debts to the extent of their involvement |
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| usually helpful acts performed in exchange for pay. |
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| when economic activity is very low ad unemployment is very high. |
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| when that prices rise the quantity supplied by producers tends to increase, and when the pries fall the quantity supplied tends to increase |
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