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cap
capital
any human-made resource used to make a good/service
entrepreneurship
ideas on how to best use resources to make a good/service; a unique idea/feature
liability
the state of being responsible for something, especially by law
depreciation
the decrease in the value of assets and the method used to reallocate, or "write down" the cost of a tangible asset (such as equipment) over its useful life span
free-enterprise
mostly a market economy (capitalism) with limited government intervention
economics of scale
purchase raw materials in bulk for cheaper
horizontal merger
same area of market
vertical merger
different areas of same market
conglomerate
different markets entirely
natural monopoly
easiest and most efficient to have one company handle a good/service
geographical monopoly
monopoly due to the fact that it is the only one there because of location
technological monopoly
controls the method of manufacturing or exclusive rights to technology to manufacture the product
patents
protects an invention
copyrights
protects the words
trademarks
protects the image/logo
Note 
Flashcard (21)