Serena Sandoval- BUSN 115- Week 1

Serena Sandoval- BUSN 115- Week 1 - Vocabulary Words 1....

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Vocabulary Words 1. Risk – The change an entrepreneur takes of losing time and money on a business that may not prove profitable. A hazard or dangerous chance: It’s not worth the risk. 2. Outsourcing – Contracting with other companies often in other countries. In such cases jobs may be lost to overseas competitors, such as China, India and the Philippines. 3. Capitalism – The economic system that has led to wealth creation in much of the world. All or most production and distribution are owned by individuals that are privately owned and operated. 4. Oligopoly – A system where just a few sellers dominate their market and prices are about the same. Such as gasoline and tobacco. One reason there are few industries is the initial investment required. 5. Brain Drain – The loss of the best and brightest people to other countries. Such as professional leaving socialist countries for capitalist countries such as the U.S. with lower taxes. 6.
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This note was uploaded on 11/27/2011 for the course BUSN 319 taught by Professor Amanda andres during the Spring '11 term at DeVry Long Beach.

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