| A | B |
|---|
| Surplus | an amount, quantity that is greater than needed |
| Opportunity Cost | “the benefit that could have been gained from an alternative use of the same resource.” |
| Consumer | “A person who buys and uses goods and services" |
| Entrepreneur | ” a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.” |
| Sole Proprietor | ” business entity that is owned and run by one individual.” |
| Partnership | ” a contract between individuals who, in a spirit of cooperation, agree to carry on an enterprise.” |
| Corporation | “a separate legal entity that has privileges and liabilities that are distinct from those of its members. An important feature is limited liability.” |
| Scarcity | insufficiency or shortness of supply |
| Brand | identity of a company; essence of what they stand for |
