Girls Test Flashcards
Raw materials and natural resources needed to make the goods or product
Land
Head of the business
Entrepreneur
Workers needed to make or produce the product
Labor
Supplies and materials needed to make the products such as machinery, factory, tools etc. (money to purchase these materials)
Capital
The item made to sell
An item that can be bought, borrowed, used, or traded.
Good/product
When the company does something for you such as a car wash, hair salon, barber, drycleaner etc.
Something that a person or groups of people do for one or more people
Service
Amount charged to the customer for the good or service
Price
One who buys the product or uses the services
Consumer
When another store or company sells the same items
Competition
Amount of money the company or store makes after they pay all their costs such as bills for supplies, labor etc.
Profit
Amount of money needed to run the business or produce the product
Cost
Water, soil, trees, salt, coal, limestone, oil, natural gas, Clay, and sand are examples of what?
Land
Computer technicians are trained to create computer programs. Police officers are trained to protect the citizens of a community. These are examples of what?
Labor
Buildings, machinery, vehicles, and tools are examples of what?
Capital
A store manager decides what items to sell at a certain price. A car manufacturer decides what new designs to add to his cars. These are examples of what?
Entrepreneurship
