Section 1
an outcome you are trying to achieve
goal
when the expenses of the business is more than its income
loss
money a business earns from selling a good or service
income
how many people want or need a good
demand
needing to pay back for something already received
owe
a plan on how to use our money
budget
the money left over after a business pays all of its expenses
profit
when the supply of a good or service is more than the demand
surplus
set money aside for something
allocate
a person who thinks of a new or better way
innovator
the money it costs to run a business
expenses
how much of a good there is to buy
supply
a row of workers who each do their part to produce a product
assembly line
the amount of money it takes to make a good or provide a service
production cost
when there is more demand for something than there is a supply
scarcity
the government does not control the market
expenses