| A | B |
|---|
| The discipline that keeps track of a company's financial situation. | accounting |
| The possibility of financial loss. | business risk |
| The struggle between companies to attract new customers, keeping existing ones, and take away customers from other companies. | competition |
| The exclusive right to reproduce or sell a work authored by an individual, such as writings, music, and artwork. | copyright |
| Customer willingness and ability to buy products. | demand |
| The demand for industiral goods based on the demand for consumer goods and services. | derived demand |
| A business that sells its products only in its own country. | domestic business |
| A business function that involves money management. | finance |
| A business that seeks to make a profit from its operations. | for-profit business |
| A system that encourages individuals to start and operate their own business in a competitive market, without government involvement. | free enterprise system |
| A business that sells its products to more than one country. | global business |
| A group of esstablishments primarily engaged in producing or handling the same product or group of products or in rendering the same services. | industry |
| The business function of planning, organizing, and controlling all available resources to achieve company goals. | management |
| Exclusive control over a product or the means of producing it. | monopoly |
| Competition based on factors that are not related to price, such as product quality, service and financing, business location, and reputation. | nonprice competition |
| A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. | nonprofit |
| An organization that can function like a business but uses the money it makes to fund the cause identified in its charter. | nonprofit organization |
| government-issued exclusive right to make, use, or sell an invention for up to 20 years. | patent |
| The sale price of a product; the assumption is that consumers will buy the product with the lowest price. | price competition |
| Businesses not associated with government agencies. | private sector |
| The process of creating, expanding, manufacturing, or improving on goods and services. | production |
| The money earned from conducting business after all costs and expenses have been paid. | profit |
| Local, state, and federal government agencies and services, such as public libraries and state universities. | public sector |
| Channel of distribution that buys goods from wholesalers or directly from manufacturers and resells them to the consumer. | retailers |
| The amount of goods producers are willing to make and sell. | supply |
| A brand name, brand mark, trade character, or a combination of these elements that is given legal protection by the federal government. | trademark |
| Channel of distribution that obtains goods from manufacturers and resells them to industrial users, other wholesalers, and retailers. | wholesalers |
