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10 Cards in this Set
- Front
- Back
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Supply |
How much of a given product businesses are willing to produce |
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Demand |
How much of a product buyers are willing to purchase |
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Profit |
Money that a business has left after it pays its expenses |
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Free enterprise |
An economic system in which business can be conducted with limited direction or interference from the government |
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Competition |
Rivalry between companies |
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Government regulation |
Laws passed by the government which ensures that businesses are run safely and fairly |
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Patent |
Gives individuals the exclusive right to make and sell an invention for a certain number of years |
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Copyright |
An exclusive right to publish or sell a piece of writing, music, or art |
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Agribusiness |
Large scale farming and processing of crops and employs |
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Feedlots |
A large area of enclosed land on which animals are kept and fed to make sure they are ready for the market |
