2.04 Key Terms Flashcards
1
Q
Entrepreneur
A
An individual who: invents, develops, and distributes a good or provides a service; assumes the risks of starting and building a business; and receives personal and financial rewards for her/his efforts
2
Q
Free/Private Enterprise
A
An economic system in which individuals and groups, rather than the government, own or control the means of production–the human and natural resources and capital goods used to produce goods and services
3
Q
Small Business
A
A business that employs 500 or fewer people
