| A | B |
|---|
| Profit | Money that remains after a business has paid its expenses |
| Profit motive | A incentive to work |
| Competition | Contest betwen business to win customers |
| Needs | Items necessary for survival |
| Wants | Items that are nice to have |
| Consumer | A person who uses goods or services |
| Customer | A person who purchases goods or services |
| Goods | Items businesses sell that can be physically weighed or measured |
| Services | Tasks that businesses perform or provide for customers, such as car washes |
| Sole proprietorship | A business owned by only one person |
| Partnership | A business owned by two or more people |
| Non-profit organization | A business whose goal is to provide a service rather than make a profit |
| Corporation | A business that is separate from the owners/stockholders by law. |
| Multinational corporation | A company that has businesses in many countries |
| Accounting | The process of recording and reporting the financial data for a business |
| Management | The process of leading and directing an organization |
| Marketing | The process of creating, promoting and presenting a product to consumers |
| Information Technology | The process of developing, installing and implementing computer systems and applications |
| Operations | The activitie involvedin the day-to-day running of a business |
| Human Resources | The activities that deal with the hiring, firing, and training or personnel |
