|
| The United States has a Private Enterprise System. It's an economic system in which most resources are owned privately, and decisions about production are made by the people, and not the government. |
The main goal of the business owner is to make a profit. A profit is the amount of moneyu a business has left over after paying the cost of producing and marketing its goods and services. |
| Motivations compell businesses to do things. Competition would motivate a business to upgrade, or start making a bacon cheese burger. Money motivates business owners, you have to want to earn a profit, and you have to earn a profit to make a living. When doing business, you have to keep the consumers in mind. They are the ones that will be buying, and possibly selling your product. |
To succeed to in the business world, the consumers have to beilve that your corperation, or business is socially responsible They have to know that your business will act in a responsible and fair way towards their employees and society as a whole. |
| VOCABULARY: |
|
| 1) Private Enterprise System: An economic system in which most resouces are privately owned and decisions about production are made by individuals and groups rather than by the government. |
4) Profit: The amount of money a business has left over after paying the cost of producing its goods and services. |
| 2) Competition: The contest between business to win customers. |
5) Social Responsibility: The idea that businesses act in a responsible and fair way toward their employees and society as a whole. |
| 3) Motivations: Force that causes businesses to act, including competition, desire to earn a profit, and the needs and wants of consumers. |
6) Green Products: Items produced with less negative impact on the environment than competing products. |
 |
|
 |
|
| |
|