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Shamira Washington Mr. Winston Intro Business Homework Chapters 1-6 kinsfolk 13, 2010 Chapter 1& 2 Homework raise Important Terms (Chapter 1) * frugalal Stabilization Act- A $700 unmatchable million million bailout fancy created to stabilize the domains rescue and specify bureau in the banking and financial industries. * disembarrass enterprise- The organization of worry in which several(prenominal)s are free to set about what to set up, how to publish it, and at what price to sell it. * finish (or workplace) diversity- Differences among masses in a work force owe to race, ethnicity, and gender. * Business-The organized effort of undivideds to produce and sell, for a profit, the products and services that does execute societys needs. * Profit- What automobile trunk after all backup experiences have been deducted from sales revenue. * Stakeholders-All the antithetic people or groups of people who affected by the policies and decisions dumbfound by an organization. * Economics-The study of how riches is created and distributed. * Microeconomics- The study of the national deliverance and the global economy. * Economy- The way in which people deal with the fundamental law and distribution of wealth. * Factor of production- Resources employ to produce goods and services.

* Entrepreneur- A soul who risks time, effort, and money to start and flow a business. * Capitalism-An economic clay in which individuals own and rifle the majority of businesses that provide goods and services. * overshadow hand-A term created by exaltation Smith to describe how an individuals own individualized gain benefits others and a nations economy. * Market economy- An economic system in which businesses and individuals root what to produce and buy, and the market determines quantities change and prices. * Mixed economy-An economy that exhibits elements of dickens capitalism and socialism. * Consumer products-Goods and services purchased by individuals for personal consumption. *...If you want to wash out up a large essay, order it on our website: Orderessay

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