Key Business Terms (DECA)

_____ is the need/want for a product/service.

______ is when many companies share the market. 

________ is when few companies dominate the market.

_____ is when one company dominates the market. 

A(n) ____ is anything of value that a company or an individual owns.

______ are taxes placed on foreign goods/services to encourage growth of the local economy.

_____ are morals of what is right and wrong.

_____ is the availability of something. (product/service) 

___ is the profit made on a business transaction after deducting all costs from gross receipts.

_____ is when a company makes more money than what is spent making the product.

______ is when many different companies share the market evenly. (doesn't exist)

______ is the stage of the business cycles when the market slows down.

____ is the money required to start and/or keep a business running.

_______ are incorporeal assets that have no physical substance.

____ is when a company makes less money than what is spent making the product.

A(n) ____ is a document granting an inventor sole rights to an invention.

______ is when there is more of the product than the demand calls for.