| A | B |
|---|
| Profit | Money that remains after a business has paid for the expenses of running the business. |
| Profit Motive | A person's incentive to work to gain something for himself or herself. |
| Competition | Contest between businesses to win customers' business and loyalty. |
| Needs | Items necessary for existence, such as clothing, food, and shelter. |
| Wants | Items that would be nice to have but are not necessary. |
| Consumer | A person who uses goods or services. |
| Goods | Items businesses sell that can be physically weighed or measured, such as iPods or CDs. |
| Services | Tasks that businesses perform or provide for customers, such as hair cuts or car washes. |
| Accounting | The process of recording and reporting financial data for a business. |
| Management | The process of leading and directing all or part of an organization. |
| Marketing | The process of creating, promoting, and presenting a product to the consumers. |
| Information Technology | The process of developing, installing, and implementing computer information systems and applications. |
| Operations | The activities involved in the day-to-day running of a business for the purpose of producing value for the stakeholders. |
| Human Resources | The activities that deal with the hiring, firing, training, and other personnel (employee) issues. |
