| A | B |
|---|
| trademark | A brand name, brand mark, trade name, trade character, or a combination of these elements that is given legal protection by the federal government. |
| copyright | he exclusive right to reproduce or sell a work authored by an individual, such as writings, music, and artwork. |
| competition | The struggle between companies to attract new customers, keep existing ones, and take away customers from other companies. |
| price competition | The sale price of a product; the assumption is that consumers will buy the product with the lowest price. |
| nonprice competition | Competition based on factors that are not related to price, such as product quality, service and financing, business location, and reputation. |
| monopoly | Exclusive control over a product or the means of producing it. |
| nonprofit | An organization that can function like a business but uses the money it makes to fund the cause identified in its charter. |
| business risk | The possibility of financial loss. |
| profit | The money earned from conducting business after all costs and expenses have been paid. |
| supply | The amount of goods producers are willing to make and sell. |
| demand | Consumer willingness and ability to buy products. |
| domestic business | A business that sells its products only in its own country. |
| global business | A business that sells its products to more than one country. |
| for-profit business | A business that seeks to make a profit from its operations. |
| nonprofit organization | An organization that can function like a business but uses the money it makes to fund the cause identified in its charter. |
| public sector | Local, state, and federal government agencies and services, such as public libraries and state universities. |
| industry | A group of establishments primarily engaged in producing or handling the same product or group of products or in rendering the same services. |
| derived demand | The demand for industrial goods based on the demand for consumer goods and services. |
| wholesalers | Channel of distribution that obtains goods from manufacturers and resells them to industrial users, other wholesalers, and retailers. |
| retailers | Channel of distribution that buys goods from wholesalers or directly from manufacturers and resells them to the consumer |
| production | The process of creating, expanding, manufacturing, or improving on goods and services. |
| management | The business function of planning, organizing, and controlling all available resources to achieve company goals. |
| finance | A business function that involves money management. |
| accounting | The discipline that keeps track of a company's financial situation. |
