A person who uses resources to start a business.
Entrepreneur
A new device or a new way of doing something.
Innovation
To make or think of something that did not exist before.
Invention
A geographic area united by similar characteristics.
Region
Buildings, tools, machines, and money that businesses use to make and sell goods and services.
Capital Resources
People who do the work that businesses need to make and sell good and services.
Human Resources
Things that occur naturally, such as air, water, minerals, and trees, that businesses need to make and sell goods and services.
Natural Resources
Something that is used to produce a good or service.
Resource
Items that can be bought or sold
Goods
Work done for others, such as haircuts or car repairs.
Service
Persuading customers to buy a good or service.
Advertising
A person who buys something.
Customer
Money spent to buy resources.
Expense
When a business pays more in expenses than it makes in sales.
Loss
When a business makes more money in sales than it spends in expenses.
Profit
Money earned from sales.
Revenue
What can be gained in making a business decision
Reward
The chance of loss or failure when making a business decision.
Risk
The amount charged for a good or service.
Price
The amount of a good or service that is available for sale.
Supply
When individuals or groups depend on one another.
Interdependence
Someone whose business it is to supply a service or a good to other businesses.
Supplier
The system of changing resources into goods or services and getting them to the buyer.
Supply Chain