resources		Period in the business cycle characterized by low unemployment, high production, and opening of new businesses
GDP		Biggest portion of consumer income is spent on this.
values		Business owned by one person
socialism		type of resource that combines natural, human, and capital resources to produce goods/services
capital		Aims or objectives
goods		business that moves goods from one business to another, also called an intermediary
traditional		Goal that can be achieved within a few weeks to a few months
intermediate		Type of business in which the right to sell a parent company's goods/services within a specified territory are purchased
wholesaler		The number of goods/services produced during a certain period of time.
distributor		Anything people can use to make or obtain what they need or want
goals		Resource that includes items that come from the air, water, or earth
soleproprietorship		Economic sytem in which the government makes all the decisions regarding which goods/services to produce, how they will be produced, and how the goods/services will be distributed
partnership		goals that can be achieved within one year
shortterm		goals that take longer than a year to achieve
recovery		Period in the business cycle when production starts to increase, people go back to work, and spending increases
citizen		Business that distributes goods from one business to another. Buys in large quantities and sells in smaller quantities
natural		turn raw or processed goods into finished goods
shelter		Type of resource that includes all items other than natural resources that are used to produce goods and services
recession		Your role when your purchase goods/services
Human		Period in the business cycle when spending decreases and the unemployment rate increases
corporation		Organization owned by many people but treated by the law as in one person owned it
franchise		Business that does not provide tangible goods to consumers
consumer		Business owned by two or more people
retailer		Part of the business cycle characterized by high unemployment and low productivity
communism		Business that provides goods/services directly to the consumer
capitalism		Your role when you vote, pay taxes, and obey the law
prosperity		Items that satisfy the need for wants/needs. They can be physically weighted and measured.
entrepreneurial		Resource that describes the people who contribute the physical and mental energy to the production of goods/services
depression		Things that you prize and think are important, your beliefs and principles
manufacturers		Basic economic decisions that are based on the actions of individual people and businesses participating in different markets
longterm		Economic system in which the government owns major industries but allows for private ownership of businesses
services		Economic system in which people do things the way they have always been done.