| A | B |
|---|
| Supply | How much a producer is willing to make |
| Need | Things you must have in order to survive |
| Scarcity | The conflict between unlimited wants and limited resources |
| SCORE | Group of retired entrepreneurs that consult with new business owners |
| Marketing | Attracting customers by utilizing the marketing mix |
| Marginal Benefit | The advantage of producing one additional item |
| Oligopoly | A small number of businesses competing with each other in an industry with a high cost of entry |
| Fixed(sunk)Costs | Expenses that must be paid no matter how much is produced |
| Production | Creating or obtaining products or services for sale |
| Opportunity Costs | The value of the next best alternative |
| Want | Things you think you must have in order to be satisfied |
| Demand | How much a consumer is willing to buy |
| Natural Resources | occur naturally within environments that exist relatively undisturbed by mankind, in a natural form |
| Human Resources | Individuals who make up the workforce of an organization |
| Capital Resources | Any asset used in the production of products and/or services |
| Executive Summary | short document that summarizes a longer report, proposal or group of related reports in such a way that readers can rapidly become acquainted with a large body of material without having to read it all |
| Management | business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively |
