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AmeriTowne Unit 1

Horizontales
The amount of a business’ total revenues in excess of the total costs.
use up/buy
The condition that exists because resources are in fixed or limited supply relative to demand. Thus, a cost must be borne in order to obtain a resource when this condition exists.
Social science concerned chiefly with the way society chooses to employ limited resources, which have alternative uses to produce goods and services for present and future consumption.
The idea that people can invest in a business in order to earn a profit.
deliver/sell
objects that can satisfy people’s wants
activities that can satisfy human wants; something that one person does for someone else, usually for a wage
Verticales
Another word for make
generally categorized as land (natural), labor, capital (man-made) and entrepreneurship
When two or more businesses try to win over a customer to buy their product or service.
Inputs or factors used in the production of goods and services. Resources are generally categorized as land (natural resources), labor and capital (man-made resources).
The different quantities of a resource, good, or service that will be purchased at various prices during a specific time period; the willingness and ability to purchase goods and services for a particular price.