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Business Concepts Review

Horizontales
Rate of change in prices calculated on a monthly or yearly basis
Tools, equipment, machinery
An economy where individuals are free to make their own economic decisions.
Science that examines how goods and services are produced, sold, and used
Person who buys goods and services.
Process of controlling and making decisions about a business
When demand is higher than the available resources
A rising unemployment rate indicates a ____ economy.
Group of individuals who make high-level management decisions for a corporation
Driving force in choosing to start a business.
A statement that describes the core goal or purpose of the company (What and How)
Market structure with one business that has complete control
Connection among nations when economies freely move goods, labor, and money across borders
Association of two or more persons who co-own a business
Verticales
Money that an employer pays an employee.
Strength of an economy can be measured using certain economic _____.
Major advantage of forming a corporation
Business that is owned and often operated by a single individual
Continuous process of evaluating the progress in reaching goals and making corrections to plans
Value of the next best option
Laws that promote fair trade and competition among businesses.
When supply is greater than demand.
Statement or description of an organization's aspirations. (Guiding Beacon)
Market structure with a small number of businesses selling the same or similar products.
Goods and services
Utility where products are available at convenient places.