Entrepreneurship Flashcards
capital goods
the factories, machines,technology, tools, equipment, and any other man-made goods used to make other goods or services
competition
a situation where multiply people organizations try to outperform each other
entrepreneur
a person who takes the risk to organize resources to produce a new or better good or service in hopes of gaining a profit
human resources
the employees who help produce goods and services
loss
an amount of money lost by a businesses or organization
natural resources
a naturally- made item, such as a tree, mineral, or fresh water, that people can use to help meet a need or want
productive resources
a resource used to produce a good or service
profit
the money left over after business has paid all its expenses
visionary
a person who has an exceptional ability to plan or have ideas fore the future
