Business
Businesses that use supplies from other producers to make products
manufacturers
A science that examines how goods and services are produced, sold, and used
Economics
The connection made among nations when economics freely move goods, labor, and money across borders
Globalization
A person who starts a business or purchases an existing business
entrepreneur
The gathering and analyzing of information about a business
market research
Businesses that create goods and services
producers
The economics resources a nation uses to make goods and supply services for its population
factors of production
The shared beliefs, customs, practices, and social behavior of a particular group or nation.
culture
A distinguishing characteristic or quality that makes each person unique
trait
The movement of money into and out of a business
Cash flow
Consists of all other organizations that provide goods and services
private sector
Work performed by people in organizations
labor/human resources
The buying and selling of goods and services across national borders
-international trade
The ability to influence others to reach a goal
leadership
A license to sell a company's goods or services within a certain location
franchise
An organization that exists to serve some public purpose
not-for-profit organization
All the tools, equipment, and machinery used to produce goods or provide services.
capital
All the business activity involved in making, buying, and selling product within a nation's borders
domestic business
Ability or an expertise which may be used in variety of jobs/occupations
transferable skills
Written statement of goals and objectives for a business with a strategy to achieve them
Business plan
An organization that operates with the goal of generating revenue
for-profit business
The willingness and ability to start a new business
Entrepreneurship
When a country can produce goods more efficiently and at a lower cost than another country
Absolute advantage
The process of setting goals and deciding how to accomplish them
planning
Sentence describing the purpose of the business
mission statement