| A | B |
|---|
| proprietorship | a business owned by one person |
| risks | gamble in hope of a favorable outcome |
| partnership | business organization in which two or more perple agree to do business together |
| corporation | type of business organization with multiple owners but acts as a single entity |
| owner liability | being responsible |
| investment | providing money or capital for a business |
| financial capital | money for a business |
| consumption | using economic goods in business |
| tax revenue | payment to the government |
| public goods | not privately made |
| private financial institutions | privately owned banks, savings and loans, etc |
| intermediaries | people or companies that raise money |
| securities brokerages | exchange of stocks and bonds |
| credit union | a type of private financial institution run by its members |
| savings and loans | a financial institution that specializes in accepting savings deposits and making mortgage loans |
| banks | a private financial institution that provides services relating to money |
| deposits | money placed in a financial institution |
| loans | money borrowed that is usually repaid with interest |
| global economy | economies from countries around the globe are interconnected |
| cost | monetary value |
| technological innovations | changing the method of production with technology |
| capital | wealth in the form of money or property |
| production costs | expenses incurred by production |
| efficiency | conditions that create the biggest profit with the smallest investment |
