| A | B |
|---|
| Income | The money received by resource owners and by producers for supplying goods and services to customers ( |
| Indirect Competition | Rivalry between or among businesses that offer dissimilar goods or services. |
| Monopoly | A type of market structure in which a market is controlled by one supplier, and there are no substitute goods or services readily available |
| Natural Risks | Perils resulting from environmental causes. |
| Non-price Competition | A type of rivalry between or among businesses that involves factors other than price (e.g., customer services, modern |
| Operating Expenses | All of the expenses involved in running a business |
| Oligopoly | A market structure in which there are relatively few sellers, and industry leaders usually determine prices |
| Perfect Competition | A market structure in which there are many businesses selling a lot of identical products for about the same price to many buyers; also known as pure competition |
| Price Competition | A type of rivalry between or among businesses that focuses on the use of price to attract scarce customer dollars |
| Profit | Monetary reward a business owner receives for taking the risk involved in investing in a business; income left once all expenses are paid |
| Private Enterprise System | An economic system in which individuals and groups, rather than government, own or control the means of production–the human and natural resources and capital goods used to produce goods and services. Also known as free market economy, private profit system, market system, capitalistic system, or free enterprise system |
| Socialism | A modified command economic system in which government owns the basic means of production and allows private ownership of businesses as well |
