| A | B |
|---|
| Entrepreneur | Someone who combines the factors of production to create a business |
| Intrapreneurship | Practice of giving employees opportunities to be creative and try out new ideas within a company. |
| Aptitude | A natural ability to do a particular type of work or activity well |
| Non-Profit | A legally defined type of business ownership in which the company operates not to make profit but to provide a benefit to society |
| Importing | The business activity in which goods and services are brought into a country by foreign suppliers |
| Profit Motive | An incentive that encourages entrepreneurs to take business risks in the hope of making money. |
| Exporting | The business activity in which goods or services are sent from a country to foreign consumers. |
| Market Economy | Suppliers and consumers control the production, allocation, and the prices of goods and services |
| Mixed Economy | Economic system that blends elements of a command and market economy. |
| Command Economy | The government controls production, allocation and prices of goods |
| Supply Curve | Shows the quantity of a product or service that producers will produce at different prices. |
| Equilibrium price | The point where supply and demand meet |
| Scarcity | Not enough goods to meet the unlimited wants of consumers |
| Franchise | The arrangement in which an established company sells the right for others to use the company's name and operating plan to sell products or services |
| Liability | Legal obligation of a business to use personal money and possessions to pay the debt of the business. |
