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Introduction to Business and Economics

Jenny Nguyen

Products Early
Entrepreneurs take risk to start and run supply & demand
The driving force in choosing to start a business is shortage
Demand product are higher than available supply customer
Money earned in exchange in exchange for work  profit
The price of product is determined Business
A individual or group that buys products  need
Something a person must have to survive management
Activity related to making a product supply equals demand
Business activities that involve $ Capital
Process of controlling wages
Anticipation and satisfy customer and making $ Market
$139.526.000 value of the 9 digits in this # never
Careful management of available resources Good and services
Ice cream store open late during July, but close_ in Jan Finance
Customer service. manger said to be kind and ___ be rude Nine million
The market price for a product is determined at a point where Trade-off
In a ___ economy, individual free to make their own economics decisions economy
A(n) ____ is when something is given up in order to gain something else marketing
____ is all of the tools,equipment, and machinery used to produce good and services production

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