EBM S1 Review

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A license conferring a right or title for a set period to make, use, or sell an invention.

Tools, Money, Cars, Computers are examples of...

Owned by many stockholders, pays taxes on profits, has limited liability

The amount of good or services that customers are willing to buy at various prices

Things used to make goods and/or services

Owned by two or more people. Relatively easy to start. Partners share the liabilities and the profits.

Everything contained on (or in) the earth

The concept that no one can can everything they want. Individuals and societies have to balance wants and needs with limited resources.