The fundamental economic problem is the scarcity of resources relative to the unlimited wants and needs of society.

Capitalism is an economic system based on private ownership of resources and the pursuit of profit.

Entrepreneurs play a crucial role in driving economic growth and innovation by introducing new products and services.

A central bank's primary function is to regulate the money supply and maintain price stability.

A balance sheet provides a snapshot of a company's financial position at a specific point in time.

A primary goal of marketing is to generate leads and sales for a business.

Departmentalization is the process of dividing a business's activities into specialized units.

Stock represents ownership in a company and entitles the holder to a share of the company's profits.

Decision-making is the process of evaluating and selecting the best course of action among several alternatives.

Labor, capital, land, and entrepreneurship are all types of economic resources used to produce goods and services.

Money supply refers to the total amount of money in circulation in an economy.

A monopoly is a market structure characterized by a single seller.

A merger is the process of combining two or more companies into a single entity.

An income statement summarizes a company's financial performance over a period of time.

Productivity improvement refers to the process of increasing the efficiency of a business's operations.