15.1 & 15.2 Vocab

3. A business that has only one owner.
5. A brief description of the purpose of a business.
10. Includes the material resources used to grow businesses.
11. A form of business organization where two or more people go into business together.
13. People are free to make their own economic decisions.
15. A property right issued to an inventory that excludes others from marking, using, or selling the invention.

1. Basic necessities a person must have to live.
2. The amount of money a business makes from selling goods and services beyond the cost of producing them.
4. A chart that shows an organization's internal structure.
6. Resources such as labor, land, and equipment that can be used to produce and provide goods and services.
7. A single company that controls the entire supply of a product or service.
8. Items a person would like to have but can live without.
9. A business owned by many people.
12. The amount of products and services consumers want to buy.
14. The amount of products and services available for sale.