| A | B |
|---|
| Operating expenses | All of the expenses involved in running a business that are not directly related to production |
| Pricing | A marketing function that involves determining and adjusting prices to maximize return and meet customers’ perceptions of value |
| Profit | Monetary reward a business owner receives for taking the risk involved in investing in a business; income left once all expenses are paid |
| Risk | The possibility of loss or failure |
| Profit motive | The desire to make a profit, which moves people to invest in business |
| Resource | Any item that is used to accomplish another activity, such as producing/providing goods and services |
| Suppliers | Vendors; businesses from which other businesses buy goods or services |
| Taxes | Monies that individuals or businesses must pay to the government |
| Private enterprise system | An economic system in which individuals and groups, rather than the government, own or control the means of production; also known as free market economy, private profit system, market system, capitalistic system, or free enterprise system |
