Business Terminology

5. A person who starts a new business venture
9. The study of how resources are allocated to meet human needs and wants.
10. Principles and standards that guide the behavior of individuals and organizations in the business world.
13. Financial assets or resources used to start and operate a business.
14. The process of increased interconnectedness and interdependence among countries and economies.
16. The process of bringing new products, services, or processes to the market.

1. A financial plan that outlines expected income and expenses over a specific period.
2. People or groups that have an interest in a company's operations and success.
3. Resources owned by a business, such as cash, inventory, equipment, and property.
4. The process of promoting and selling products or services to customers.
6. The process of setting goals and determining the best ways to achieve them.
7. The quantity of goods or services that consumers are willing and able to buy at a given price.
8. A market structure in which a single company dominates the industry.
11. A sustained increase in the general price level of goods and services in an economy.
12. The difference between the cost of production and the selling price
15. Rivalry among businesses for customers, sales, and market dominance.