BE 2.05 Vocab Review

Front

Risk-response strategy: choosing not to do something risky

Back

Avoidance

Front

Possibility of loss or gain in business.

Back

Business Risk

Front

Amount a business pays for products or raw materials it sells.

Back

Costs of Goods

Front

Rivalry among businesses offering similar goods/services

Back

Direct Competition

Front

Economic risks: possibility of loss or failure due to the economy.

Back

Economic risks

Front

Money a business spends

Back

Expenses

Front

Money left after cost-of-goods is subtracted from total income

Back

Gross Profit

Front

Possibility of loss or failure from human error

Back

Human Risks

Front

Money received by resource owners and producers for supplying goods and services.

Back

Income

Front

Rivalry among businesses offering different goods/services

Back

Indirect Competition