Chapter 17 Test Review

business in which two or more people share the responsibilities, costs, profits, and loss

• free enterprise

• entrepreneur

• stock

• partnership

items found in nature that can be used to produce goods and provide services

• capital

• natural resources

• labor

• free market

human effort, skills, and abilities used to produce goods and services

• capital

• profit

• labor

• natural resources

shares of ownership of a corporation

• partnership

• entrepreneur

• stock

• labor

right to buy and sell goods as you choose

• free market

• capital

• free enterprise

• entrepreneur

lack of a particular resource

• profit

• free market

• free enterprise

• scarcity

manufactured goods used to make other goods and services

• capital

• profit

• free market

• free enterprise

rights of business owners to set their prices and run their business as they choose

• free market

• labor

• free enterprise

• partnership

person who organizes, manages, and assumes the risk of a business

• labor

• entrepreneur

• partnership

• capital

money a business has left after it has paid its expenses

• capital

• profit

• labor

• natural resources