Business Vocabulary

The car company is______ its latest model due to a defective electrical system.

• recalling

• repelling

• resisting

Wrong We're trying to decrease the manufacturing costs in order to get a better profit ___________ on this product.

• limit

• margin

• surplus

Don't worry about the cost of meals on a business trip; the company will ____________ you for them.

• recognize

• reimburse

• restore

An education company and a technology company are discussing a possible joint ____________: creating an app to help people learn.

• voyage

• venue

• venture

a person who has the ideas and skills to start a business

• entrepreneur

• laborer

• manager

• consumer

things that people must have in order to survive

• needs

• wants

• opportunity cost

• scarcity

someone who makes goods and services

• producer

• consumer

• entrepreneur

• government

the amount of money a business makes after its expenses are paid

• profit

• supply

• demand

• scarcity

work done for someone else in exchange for payment

• services

• supply

• scarcity

• land

things that people would like to have but can live without

• wants

• needs

• scarcity

• opportunity cost