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Shamira Washington Mr. Winston Intro Business Homework Chapters 1-6 September 13, 2010 Chapter 1& 2 Homework posit Important Terms (Chapter 1) * stinting Stabilization Act- A $700 one million million bailout image created to stabilize the lands rescue and specify self-reliance in the banking and financial industries. * Free enterprise- The organization of worry in which several(prenominal)s are free to try what to set up, how to garden truck it, and at what price to sell it. * Culture (or workplace) diversity- Differences among people in a work force owing to race, ethnicity, and gender. * Business-The organized effort of separates to produce and sell, for a profit, the products and services that does satisfy societys needs. * Profit- What torso after all business experiences have been deducted from sales revenue. * Stakeholders-All the antithetical people or groups of people who affected by the policies and decisions blade by an organization. * Economics-The study of how wealth is created and distributed. * Microeconomics- The study of the national economy and the global economy. * Economy- The way in which people deal with the administration and distribution of wealth. * Factor of production- Resources used to produce goods and services.

* Entrepreneur- A somebody who risks time, effort, and money to start and operate a business. * Capitalism-An economic remains in which individuals own and operate the majority of businesses that provide goods and services. * supernatural hand-A term created by A dam 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 answer what to produce and buy, and the market determines quantities sold and prices. * Mixed economy-An economy that exhibits elements of ii capitalism and socialism. * Consumer products-Goods and services purchased by individuals for personal consumption. *...If you want to wash out up a full essay, order it on our website: OrderCustomPaper.com

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