small businesses in louisiana

Download Small Businesses in Louisiana

If you can't read please download the document

Post on 09-Feb-2016

38 views

Category:

Documents

1 download

Embed Size (px)

DESCRIPTION

Small Businesses in Louisiana. Unit 7. Supply. The amount of goods offered for sale by a business. Demand. The desire or need for a product or service. Competition. A business relation in which two parties compete to gain customers. Profit. - PowerPoint PPT Presentation

TRANSCRIPT

  • Small Businesses in LouisianaUnit 7

  • SupplyThe amount of goods offered for sale by a business

  • DemandThe desire or need for a product or service

  • CompetitionA business relation in which two parties compete to gain customers

  • ProfitThe amount of money that is left over after all the costs of running a business have been paid

  • GovernmentA group of elected citizens who solve problems and make laws for a community

  • Economic Choice

    The choice made among possibilities

  • Opportunity Cost

    The process of choosing one good or service over another. The item that you dont pick is the opportunity cost.Decide between a rabbit or skateboard

  • ConsumerA person who buys or uses a product or service

  • ProducerSomeone who makes a product or offers a servicePeople and businesses that make or provide goods and services

  • TradeThe exchange of one kind of product or service for another

  • SpecializationBeing an expert in one job, product or service

  • InterdependenceWhen businesses or people depend on each other for goods and services

  • GoodsProducts, or things that can be bought or sold

  • ServicesWork that someone does for someone else