Financial Literacy 1

Items that can be brought or sold

• services

• goods

• resources

• producers

work done for others, like haircuts or car repair

• goods

• producer

• resources

• services

rivalry between two or more businesses striving for the same customer

• entrepreneur

• profit

• competition

• innovation

the amount of money left after all business expenses have been paid

• profit

• resources

• goods

• services

a person or business that makes goods or provides services

• producer

• consumer

• competitor

• entrepreneur

a person who buys goods or services

• competitor

• entrepreneur

• producer

• consumer

a system in which goods and services are bought and sold freely with little government interference

• competition

• free market economy

• entrepreneurship

• skill

buildings, tools, machines, and money that businesses use to make products

• resources

• human resources

• natural resources

• capital resources

things businesses use to produce goods and services

• resources

• human resources

• natural resources

• capital resources

people who do the work a business needs

• resources

• human resources

• natural resources

• capital resources