Intro to Bus - Economic Resources

Alternative resource

• The human and natural resources and capital goods used to produce goods and services

• A resource that can be used in place of another

• Products produced for personal consumption

Automation

• People who assume the risks of starting and operating businesses

• To slow down the use of something to make its supply last longer than it would otherwise

• A production method in which machines do tasks automatically

Baby Boomers

• A term used to refer to individuals who were born between the years 1965 and 1980; also known as Gen X

• A term used to refer to individuals who were born between the years 1981 and 1995; also known as Millennials

• A term used to refer to individuals who were born between the years 1946 and 1964

Capital goods

• Manufactured or constructed items that are used in the production of goods and services

• Products produced for personal consumption

• Items in their natural state or condition

Conserve

• Information used to describe a population

• To slow down the use of something to make its supply last longer than it would otherwise

• People who assume the risks of starting and operating businesses

Demographics

• Information used to describe a population

• People who assume the risks of starting and operating businesses

• People who work to produce goods and services

Economic resources

• The human and natural resources and capital goods used to produce goods and services

• A resource that can be used in place of another

• Products produced for personal consumption

Employee-assistance program

• A project organized and sponsored by a company to help its employees

• Productive resources; human and natural resources and capital goods

• The use of two employees to share the responsibility for one full-time position

Entrepreneurs

• People who assume the risks of starting and operating businesses

• Starting and building a business

• People who work to produce goods and services

Entrepreneurship

• Starting and building a business

• Money needed to operate a business

• A scheduling procedure in which employees select their own working hours as long as they work the required number of hours