| A | B |
|---|
| Encourages individuals to start and operate their own business with limited government involvement | Free Enterprise |
| Also referred to as private enterprise | Free Enterprise |
| A rivalry between two or more businesses to gain as much of the total market sales or customer acceptance as possible | Competition |
| Two or more companies that utilize the same type of business format. | Direct Competition |
| Two or more companies that employ different types of business formats to sell similar goods | Indirect Competition |
| Focuses on the selling price of a product. | Price Competition |
| : Based on factors that are not related to price | Non-price Competition |
| When one company has exclusive control over a product or the means of producing it | Monopolies |
| The potential for loss or failure | Risk |
| The money earned from conducting business after all costs and expenses have been paid. | Profit |
