Consumer - people that buy goods and services
Profit - amount of money leftover after all expenses of doing business have been paid.
Demand - the amount of people that want to purchase a product.
Property- items own by individuals or private businesses
Private enterprise (idea for a business)
Economics - the study of how people (and nations) choose to spend their resources to meet their needs and wants
scarcity - when many people want to buy a product that is in low supply
Resources - natural materials (including animals and humans) that can be used by people.
Competition - when businesses try to win the customer
Supply - amount of product available
