Pre-Check: Economic Vocab

Front

An entrepreneur is...

Back

a person who operates a business and takes on its financial risk.

Front

A corporation is a group acting as one person.

Back

A company or group of people who act legally as one person.

Front

A monopoly is...

Back

exclusive control of a supply or service

Front

Robber baron is a person who becomes rich through corrupt business practices.

Back

Robber baron: a person who becomes rich through corrupt business practices.

Front

A trust is a practice where a trustee conducts business for others.

Back

A practice where a trustee carries out business on behalf of others.

Front

A rebate is...

Back

a partial refund to a customer

Front

A stock is...

Back

a share of a corporation that raises funds.

Front

The stock market is...

Back

the process where stocks are bought and sold

Front

A pool is...

Back

an association of competing railroad companies who agree on rates and traffic

Front

Specialization is...

Back

the process of becoming an expert in a task or skill