Transcript michaela power pointx - MrsKYoungEntreprenuersII

DEFINITIONS
BY MICHAELA BYARS
BUSINESS
• A building or site where commercial work is carried on, as a factory,
store, or office; place of work: His business is on the corner of
Broadway and Elm Street.
• An occupation, profession, or trade: His business is poultry farming.
• The purchase and sale of goods in an attempt to make a profit.
• A person, partnership, or corporation engaged in commerce,
manufacturing, or a service; profit-seeking enterprise or concern.
• Volume of trade; patronage: Most of the store's business comes from
local families.
CAPITAL
• 1. the city or town that is the official seat of government in a
country, state, etc.: Tokyo is the capital of Japan.
• 2. a city regarded as being of special eminence in some field of
activity: New York is the dance capital of the world.
• 3. capital letter.
• 4. the wealth, whether in money or property, owned or employed
in business by an individual, firm, corporation, etc.
• 5. an accumulated stock of such wealth.
ECONOMY
• 1. thrifty management; frugality in the expenditure or consumption of
money, materials, etc.
• 2. an act or means of thrifty saving; a saving: He achieved a small economy
by walking to work instead of taking a bus.
• 3. the management of the resources of a community, country, etc.,
especially with a view to its productivity.
• 4. the prosperity or earnings of a place: Further inflation would endanger
the national economy seriously.
• 5. the disposition or regulation of the parts or functions of any organic
whole; an organized system or method
ENTREPRENURE
• 1. a person who organizes and manages any
enterprise, especially a business, usually with
considerable initiative and risk.
• 2. an employer of productive labor; contractor
EMPLOYEE
• noun a person working for another person or
a business firm for pay.
PROFIT
• Often, profits. a. pecuniary gain resulting from the employment of
capital in any transaction. Compare gross profit, net profit.
• b. the ratio of such pecuniary gain to the amount of capital
invested.
• c. returns, proceeds, or revenue, as from property or investments.
• 2. the monetary surplus left to a producer or employer after
deducting wages, rent, cost of raw materials, etc.: The company
works on a small margin of profit.
RESOURCE
• a source of supply, support, or aid, especially one that can be readily
drawn upon when needed.
• 2. resources, the collective wealth of a country or its means of producing
wealth.
• 3. Usually, resources. money, or any property that can be converted into
money; assets.
• 4. Often, resources. an available means afforded by the mind or one's
personal capabilities: to have resource against loneliness.
• 5. an action or measure to which one may have recourse in an
emergency; expedient.
FREE ENTERPRISE SYSTEM
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Free enterprise is an economic
system that provides individuals
the opportunity to make their
own economic decisions, free
of government constraints, and
as private profit-potential
businesses .