Business Flashcards
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Needs
Must have to survive
Want
Not necessary but people desire to obtain them
Personal
Benefits individual
Public
Benefits community and is paid for buy local state or federal governments
Business
Provides based on the wants and needs of the people
All activities involved in producing and distributing goods and services to customers
Decision making process
- Identify problem
- List alternatives
- List pros and cons
- Make the best decision
- Evaluate Decision
Opportunity Cost
What you give up when choosing one thing over another
Resourses
Anything people can use to make or obtain what they need or what
- money is the ultimate resource
- political poll
- favors, etc.
What do limited resourses lead to?
Choices
Why are goals, trends, and values important?
They all influence decisions.
Career Clusters
Groups of related occupations in an industry that requires similar skills and aptitude.
Ability
Any activity that an individual perform well
Aptitude
Natural talent
