Term
51. Market
Many markets sell things like crops and antique items. |
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Definition
An area where goods are bought and sold.
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Term
52. Resources
Resources that humans use include fossil fuels, wind, solar energy, and water. |
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Definition
Things used up by someone or something.
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Term
53. Profit
The average profit for a small business is about +15% a year. |
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Definition
Money/Resources gained by doing business.
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Term
54. Capital
The capital for starting the business was about $15,000.
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Definition
Money/other resources used to start a business or to make it grow.
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Term
55. Factors of Production
The main factors of production are land, labor, and capital. |
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Definition
Resources put into a business in order to make profit.
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