Ch. 3 Sports/Marketing

The amount of money remaining from income after all expenses are paid

• profit
• profit motive
• venture capital 
• capital 

The study of how goods and services are produced, distributed, and consumed

• economics
• economic utility
• risk management 
• economic impact 

The possibility of financial gain or loss or personal injury 

• risk
• risk management
• risk assessment
• loss 

A report that predicts the expenses to be incurred and revenues to be earned

• forecast
• income statement
• balance sheet
• inventory sheet 

The business is legally responsible for damages

• liable
• risk
• economic utility
• loss 

Involves preventing, reducing, or lessening the negative impacts or risk

• risk management 
• risk assessment
• risk
• contingency planning 

A measurement that calculates the business's return as a percentage of the money invested

• return on investment
• return on capital
• income statement
• return on business profit 

A system of deciding between right and wrong in a reasoned and impartial manner

• ethics
• ethical dilemma 
• principles
• good decision making 

The amount of satisfaction a person receives from the consumption of a particular product or service

• economic utility
• economics
• venture capital
• profit motive 

A financial statement that shows a company's assets, liabilities, and net worth at a specific point in time

• balance sheet
• income statement
• forecast
• inventory report