| A | B |
|---|
| Venture | A business undertaking involving risk |
| Enterprise zones | Specially designated areas of a community that provide tax benefits to new businesses |
| Equilibrium | The point at which consumers buy all of a product that is supplied |
| Economics | The study of how nations allocate scarce resources to the production & distribution of products |
| Entrepreneur | An individual who undertakes the creation, organization, and ownership of a business |
| Opportunity | An idea that has commercial value |
| Profit | Money left over after all the expenses of a business have been deducted from the income |
| Entrepreneurship | The process of recognizing an opportunity, testing it in the market, and gathering resources necessary to go into business |
| Free Enterprise system | When people have the right to make economic choices, they live in a(n) ____. |
| Market | An idea plus a(n) ___ equals an opportunity. |
| Global Marketplace | The ___ has resulted in new resources, markets, and ideas |
| Elastic | If a small change in the price of an item causes a significant chage in the quanitity demanded |
| Inelastic | If a change in price has little or no effect on the quantity demanded |
| Capitalism | A free enterprise system is also called a ____ or a market economy |
