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Vocabulary for Private Enterprise

Mrs. Tharp

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1.An economic system in which some goods are services are provided by the government and some by private enterprise (2 Words)
4.An economic system where the government attempts to own and control important resources and to make the decisions about what will be produced and consumed (2 Words)
5.An economic system in which resources are owned by individuals and decisions are made independently with no attempt at government regulation or control (2 Words)
7.The use of resources toward the greatest profit for the producers regulating those relationships (2 Words)
11.An assembly process that makes a large number of identical products using a continuous efficient procedure (2 Words)
12.A relationship between the quantity of a product that producers are willing and able to provide and the price
13.An economic system based on independent decisions by businesses and consumers with only a limited government role regulating those relationships (2 Words)
14.The result of unlimited wants and needs combined with limited resources
15.Building a specific and unique product to meet the needs of one customer (2 Words)
2.Products are obtained from nature or grown using natural resources (3 Words)
3.Combining raw materials and processed goods into finished products
6.Changing the form of raw materials so they can be consumed or used to make other products (2 Words)
7.Changing and improving the form of another product
8.An individual view of the worth of a product or service
9.A relationship between the quantity of a product consumers are willing and able to purchase and the price
10.Persons who facilitate everything that happens after the client agrees to develop an ad or campaign

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