economic concepts
theories, principles and models which deal with the production, distribution and consumption of goods and services
What is economics
businesses which develop products for distribution from raw goods
what are producers
mental picture a person has of himself or herself
what is Self-image
specific style of behavior in the workplace
what is professionalism
consumer’s willingness to buy a product
what is demand
economic problem of having unlimited human wants and necessities in a world of limited resources
what is scarcity
businesses which change raw goods into a more finished form, known as processed goods
what are processors
person’s overall sense of worth or personal value
what is self-esteem
values or standards which direct the way individuals interact with others
what is ethical behaviors
possibility of loss or failure in relation to the possibility of increased profit margins in a free enterprise system
what is risk
personal characteristics or attributes including labor, management and entrepreneurship
what is human resources
process of effectively working together in group settings
what is cooperation
statement showing a strong belief in or dedication to something
what is affirmation
being able to evaluate arguments and information quickly, solve problems
creatively and identify mistakes with efficiency
what is critical thinking
economic and political theory in which there is increased government involvement and more social services in order to secure a certain standard of living
what is socialism
person who attempts to make an economic profit from an idea
what is management
process of recording, classifying, summarizing and reporting the financial position of a business
what is accounting
the state or quality of being worthy of honor or respect
what is dignity
style of speaking or behaving
hat are mannerisms
economic and political system in which all property is publicly owned; government has direct control over most aspects of life
what is communism
human skills required to start and run a business; organizes all factors of production to create economic goods and services
what is entrepreneurship
debts or obligations of a business
what are liabilities
A feeling of worry, nervousness, or uneas
what is anxiety
ability to plan and execute control over the amount of time spent on specific activities to effectively accomplish goals in a timely manner
what is time management
occurs when a product is demanded in larger quantities than it is produced
what is shortage