the amount of money paid or needed for buying, doing or producing someth.
1. the quality in a buseneesman to organize, innovate, bear risks and make nonroutine decisions, 2. an industrial or commercial organization, 3. an economic system which allows a degree of freedom to private businessmen
one of the factors of production, also called „natural resources“ being the gifts of nature in the form of useful materials of all kinds in or on the earth, including surface space, soil, rocks, minerals, water, winds and weather
the factors of production that are put into a business to produce its output
a continual rise in the average level of prices
an organized system of the production, distribution and consumption of wealth
in the business cycle, a very high peak representing a big jump in output
necessity to give up one thing in order to obtain something else (a balance between opposing things, compromise)
human-made resources (buildings, machinery, and equipment) used to produce goods and services
1. work, esp. Human work needing the use of strength of body or skill and effort of mind, 2. the whole class of persons who work for their living, 3. one of the main factors of production, the human energy and mental skill and judgement applied in producing economic goods
a commodity that has no price because it is not scarce nad does not require the use of scarce factors of production to create them, e.g. fresh air, sunshine (in certain parts of the world)
a resource whose availability cannot satisfy all its desired uses
the quality in a buseneesman to organize, innovate, bear risks and make nonroutine decisions (see Enterprise 1)
money received by a firm from the sale of goods and services
a decrease in per-unit cost as a result of an increase in output
something that motivates people to action or effort
lack of available resources to satisfy all desired uses of those resources
the cost of a choice stated in terms of the value of other goods or services that must be given up
a thing provided by nature or accumulated by man that can be used as means of satistying wants
good or service that is both useful and scarce and therefore has a price
things which are the starting point for manufacturing processes