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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) * economical Stabilization Act- A $700 one million million bailout designing created to stabilize the estates rescue and specify self-confidence 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 asseverate 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 mortals to produce and sell, for a profit, the products and services that does satisfy societys needs. * Profit- What carcass after all business experiences have been deducted from sales revenue. * Stakeholders-All the antithetic people or groups of people who affected by the policies and decisions p rofess by an organization. * Economics-The study of how wealth is created and distributed. * Microeconomics- The study of the national delivery and the global economy. * Economy- The way in which people deal with the formation and distribution of wealth. * Factor of production- Resources used to produce goods and services.

* Entrepreneur- A soulfulness who risks time, effort, and money to start and operate a business. * Capitalism-An economic establishment in which individuals own and operate the majority of businesses that provide goods and services. * hugger-mugger hand-A term created by Adam 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 adjudicate 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 race up a full essay, order it on our website: OrderEssay.net

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