1. Entrepreneur
   1. A person who recognizes an opportunity an organizes a business.
2. Product
   1. Something that exists in nature or is manmade sold for profit
3. Service
   1. Work that provides time, skill, or expertise for profit
4. Free Enterprise System
   1. Economic System in which businesses are privately owned and operated free of government interference.
5. Capitalism
   1. Individuals and companies competing for profit
6. Capital
   1. Money used in business
7. Opportunity Cost
   1. The value of what must be given up in order to gain something else.
8. Profit
   1. The money remaining after all costs ore deducted from a businesses income.