| A | B |
|---|
| Infrastructure | refers to transportation, utilities and communication services that are necessary for a country to have for distribution of goods and services |
| Executive Summary | an introduction and overview of the information contained in a written plan |
| Overhead Costs | the costs not directly related to the production or selling of goods |
| Purchasing | involves preparing a plan and buying the goods that a business will use for production or resale |
| Project Plan | a written description that includes goals/objectives and how they will be achieved |
| Project Management | involves managing specific activites of the business |
| Operations | include the day-to-day running of a business, which may include: scheduling, logistics, facilities management, safety, information management |
| Marketing | the process of planning, pricing, promoting, selling and distributing products that will satisfy the needs of customers and ensure a profit for the business |
| Law of Diminishing Returns | States that with each additional variable input, output increases at a diminishing rate |
| Management | the coordination of resources to reach an organization's goals |
| Price Competition | occurs when a business focuses on meeting or having a lower price than the competitor |
| Nonprice Competition | occurs when a business focuses on factors other than price. these factors include: providing quality products, services and location |
| Risk | refers to the potential that a business takes for loss or failure |
| Monopoly | a business has a ____ when there is no competition |
