business

3. economy economy in which individuals control production and allocation decisions through supply and demand
6. vying among business for the same resources or customers
9. enterprise economic system that allows individuals to pursue their own interests without undue governmental restriction
10. system a nation's system for allocating its resources among its citizens.
12. process of converting government enterprises into privately owned companies
13. economy economy that relies on a centralized government to control all or most factors of production and to make all or most production and allocation decisions
15. organization that provides goods or services to earn profits.
16. difference between a business's revenues and its expenses.
17. the willngness and ability of producers to offer a good or service for sale

1. (human resources) physical and mental capabilities of people as they contribute to economic production.
2. the willingness and ability of buyers to purchase a good or service
4. individual who accepts the risks and opportunities involved in creating and operating a new business
5. system that sanctions the private ownership of the factors of productions and encourages entrepreneurship by offering profits as an incentive
6. political system in which the government owns and operates all factors of production
7. environment everything outside an organization's boundaries that might affect it
8. of production resources used in the production of goods and services -- labor, capital, entrepreneurs, physical resources, and information resources.
11. funds needed to create and operate a business enterprise
14. competition market or industry characterized by numerous small firms producing an identical product