| A | B |
|---|
| material things you can see and touch | goods |
| food , shelter , clothing and other necessary wants | needs |
| recives profit satisfying your needs and wants | business |
| reward for satisfileing consumers needs and wants | profit |
| the contest between the businesses to win custermers | competition |
| the knowlege efforts and skills people profide also called labor | human resources |
| producers provide the goods and services that consumers want | supply and demand |
| a system in which a central authority, such as the state makes the key economic decisions | command econmomy |
| a system in which economic decisions are made in the marketplace according to laws of supply & demand | market economy |
| a combination of a command and a market economy | mixed economy |
| the set of moral principles by which people conduct themselves personally, socially, or professionally | ethics |
| the rules that govern how we do business | business ethics |
| a division of the department of labor that sets and enforces work/related health and safety rules | occupation Safety and Health Administration (OSHA) |
| the obligation to do what is best for welfare of society | social responsibility |
| when a person uses personal; activities or actions to advance his/her career at the expense of another person | conflict of interest |
| factories that pay poorly, have unsafe working conditions, & treat workers badly | sweatshops |
| a government agency that protects consumers from dangerous or falsely advertised products | Food and Drug Administration (FDA) |
| A federal agency that enforces rules that protect the environment and control pollution | Environmental Protection Agency (EPA) |
