FREE ENTERPRICE

• The economic system that allows people to own any business that is allows by law

MARKET ECONOMY

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• Enterpreneur
• A person who starts his or her own business

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• Human capital
• The people and ideas needed to produce somthing

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• Capital resources
• The machines needed to produce somthing

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• Investor
• A person or company that invests money

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• Opportunity cost
• The value of what someone gives up in order to buy something else

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• Specialize
• To concentrate on just one activity

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• Migrant worker
• A person who moves from one place to another to harvest different crops as they ripen

SERVICE INDUSTRY

• An industry that serves people

COMPETITION

• A rivalry between two or more business going for the same costumer

CORPORATION

• Business that belongs to many people

ROBOTICS

• The study of the design of machines

MICROTECHNOLOGY

• The development of tiny machines and objects

BIOTECHNOLOGY

• Technology that uses living cells to create new medicines

INTERDEPENDENT

• Relying on one another to meet needs and wants

INTERNATIONAL TRADE

• Trace between nations

EXPORT

• A good sold or traded to another country

IMPORT

• A good brought in from another for sale or use

PARTNERSHIP

• A business run by two or more people who share the profit and loss