Duplicate of Entrepreneurship Unit 1

the government determines what, how, and for whom products and services are provided

production, marketing, management, and finance

possibilities that arise from existing conditions

a technique that involves generating new ideas

a short written form of business communication that has a set format

one company controls the entire market

people who work for someone else

the private ownership of resources by individuals rather than the government

formal model that helps people solve problems in a logical manner

the cost of choosing one opportunity or investment over another

how much of a good or service a producer is willing to produce at different prices

a situation that occurs when people's needs/wants are unlimited but resources are limited

people who own, operate, and take the risk of a business venture

thoughts or concepts that come from creative thinking

level of output received from each worker

individuals decide what, how, and fro whom goods and services are produced

the point at which the supply and demand curves meet

an individual's need or desire for a product or service at a given price

an agreement among a group of people

The ability to learn a particular kind of job

an economic system in which people have the right to make choices of which products to buy

special meeting at which companies display their products

evaluation of one's strengths and weaknesses