| A | B |
|---|
| Planned Economy | Resources are owned and controlled by the government |
| Market Economy | Consumers and businesses make economic decisions based on their own interests |
| Private Enterprise | A system in which most economic resources are privately owned and decisions about production and distribution are largely made by voluntary exchange in the marketplace |
| Manufacturer | Take products or raw materials and changes them into a form that consumers can use |
| Marketer | A business that is involved with moving goods from producers to consumers |
| Service Business | A firm that does things for you instead of making or marketing products |
| Joint Venture | Two or more companies form an alliance to perform various business activities |
| Franchise | A written contract granting permission to sell someone elseÕs product or service in a prescribed manner |
| Mass Production | A large number of identical products are assembled using a continuous efficient process |
