Ch.5 Flashcards
Are not operated for the purpose of making a profit
Nonprofit Organization
A government issued right to make, use, or sell an invention for up to twenty years.
Patent
Obtaining goods from manufacturers and resell them to industrial user, other wholesalers, and retailers
Wholesalers
The sale price of a product. The assumption is that every consumer will buy the product with the lowest price
Price Competition
Allows customers to buy products without ever setting foot into the store
E-Commerce
A word, name, symbol, sound, or color that identifies a good or service and that cannot be used by anyone but the owner
Trademark
The process of creating, growing, manufacturing, or improving on goals and services
Production
Exclusive control over a product or the means of producing it
Monopoly
The activities involved in producing and marketing goals and services
Business
Is generally operated by only 1 or few individuals, and generally has less than 100 employees
Small Business
Competition based on factors that are not related to price, sch as product quality, service and financing, business location, and reputation
Non-Price Competition
Selling goods and services in the marketplace
Retailers
Businesses not associated with government agencies
Private Sector
Generally, employs over 1000 people, is usually national/global, and can have many different departments
Large Business
The exclusive right to reproduce or sell a work authored by an individual such as writings, music, and artwork.
Copyright
