Needs Wants and Economics

Front

Business Ethics

Back

the morals and social responsibility of businesses to demonstrate ethical behavior in their policies and decision making

Front

customer

Back

a person who purchases the goods and services businesses offer

Front

economic activity

Back

the production distribution and consumption of goods and services

Front

economic system

Back

an organized way in which a state or nation distributes its resources and provides goods and services

Front

economics

Back

the science of how individuals, businesses and governments move goods and services

Front

entrepreneur

Back

a person who organizes operates and assumes the risk of a business venture

Front

good

Back

tangible items that are produced and sold to customers

Front

market

Back

a place where the products goods and services are bought and sold

Front

need

Back

a product essential to survival product anything that can be bought or sold

Front

profit

Back

the financial gain calculated by the difference between the amount earned and the amount spent by a business