| A | B |
|---|
| Code of Ethics | code that assist members in understanding the difference between right and wrong and in applying that understanding to their decisions. |
| Logo | a symbol or other design adopted by an organization to identify its products |
| Slogan | a short and striking or memorable phrase used in advertising |
| free enterprise | an economic system in which private business operates in competition and largely free of state control. |
| Entrepreneur | creates and runs a business |
| monopoly | the exclusive possession or control of the supply of or trade in a commodity or service. |
| Economics | social science concerned with how people satisfy their demands for goods and services |
| Profit | when the amount of money from sales is greater than the business's expenses |
| Imports | foreign goods and services bought by residents of a country |
| Exports | goods and services produced in one country and purchased by residents of another country |
| Demand | goods and services a customer wants |
| Employees | a person employed for wages or salary |
| Product | an article or substance that is manufactured or refined for sale. |
| Service | the action of helping or doing work for someone for a fee. |
| Business ethics | Form of applied ethics or professional ethics or ethical problems that can arise in a business environment |
| Marketing | the action or business of promoting and selling products or services, including market research and advertising. |
| Capital | Financial Asset or Facility’s and Buildings used to produce and store manufactured goods |
| Feasibility | How possible or worthwhile something is |
| Non-profit organization | sole purpose is to serve society |
| Income | money received, especially on a regular basis, for work or through investments. |
| Wholesale | buys goods in large quantities |
| Financial reward | monetary incentives that an employee earns as a result of good performance |
| Stock | Merchandise kept on the premise of a warehouse or business and is availability for sale and distribution |
| opportunity cost | the loss of potential gain from other alternatives when one alternative is chosen. |
| Manufacturing business | converts materials into goods suitable for use |
| Business plan | Document setting out a business future objective and strategies for achieving them |
| Cost Benefit Analysis | approach to estimating strengths and weaknesses of alternatives to determine which will provide most benefit with least cost |
| Memo | brief note informing employees about a business related matter |
| Unproffesional | below or contrary to the standards expected in a particular profession. |
| Concession | Something you’re willing to give up |
| Negotiation | process where communication is used to reach an agreement that makes all parties happy |
| Franchise | business owned by an entrepreneur or an entrepreneurial group offering a product labeled by a corporation |
| Investor | a person or organization that puts money into financial schemes |
| Loss | an amount of money lost by a business or organization. |
| Accountable | Required or expected to justify actions or decisions responsible |
| Command Economy | All economic descions are descided by the goverment |
| Profit margin | The amount by which the revenue exceeds the cost in a business |
| Traditional Economy | One of the oldest economic systems were culture determines the products they sale |
| Mixed Economy | A Combined ecenomic system between two or more others |
| Management | The process of dealing with or controlling things or people |
| Telecommuting | Working at home usually in a computer |
| Liable | Being responsible for something by law |
| Promotion | Act of rising in rank or position |
| Shareholder | Someone who holds shares of stock in a corporation |
| Branding | A combination of name, words, symbols, that identifies the product |
