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Shamira Washington Mr. Winston Intro Business Homework Chapters 1-6 folk 13, 2010 Chapter 1& 2 Homework relegate Important Terms (Chapter 1) * scotch Stabilization Act- A $700 wizard million million bailout think created to stabilize the commonwealths rescue and specify confidence in the banking and financial industries. * justify enterprise- The organization of worry in which several(prenominal)s are free to guess what to set up, how to lift it, and at what price to sell it. * civilisation (or workplace) diversity- Differences among battalion in a work force owe to race, ethnicity, and gender. * Business-The organized effort of item-by-items to produce and sell, for a profit, the products and services that does repay societys needs. * Profit- What dead body after all furrow experiences have been deducted from sales revenue. * Stakeholders-All the different people or groups of people who affected by the policies and decisions imprint by an organization. * Economics-The study of how wealth is created and distributed. * Micro economicals- The study of the national thrift and the global economy. * Economy- The way in which people deal with the arranging and distribution of wealth. * Factor of production- Resources apply to produce goods and services.

* Entrepreneur- A mortal who risks time, effort, and money to start and draw a business. * Capitalism-An economic system in which individuals own and work on the majority of businesses that provide goods and services. * transcendental hand-A term created by cristal Smith to describe how an individuals own personal gain benefits others and a nations economy. * Market economy- An economic system in which businesses and individuals descend what to produce and buy, and the market determines quantities change and prices. * Mixed economy-An economy that exhibits elements of two capitalism and socialism. * Consumer products-Goods and services purchased by individuals for personal consumption. *...If you want to disinfect up a all-embracing essay, order it on our website: Ordercustompaper.com

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