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EBME 1.01 Purpose of Business Terms

Identify the meaning of the business terms.

AB
ProfitMoney that remains after a business has paid its expenses
Profit MotiveA person's incentive to work to gain something for himself or herself.
CompetitionA contest between businesses to win customers' business and loyalty.
NeedsItems necessary for existence.
WantsItems that would be nice to have, but are not necessary.
ConsumerA person who uses goods or services.
GoodsItems businesses sell that can be physically weighed or measured.
ServicesTasks that businesses perform or provide for customers.
BusinessThe buying and selling of commodities and services; commerce; trade.


CTE Business Education Teacher
Sedgefield Middle School
Charlotte, NC

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