1 Willy Wonka and the Chocolate Factory

2 Economics Economics is the social science that describes the factors that determine the production, distribution and consumption of goods and services.

3 Entrepreneurship It is the process of designing, launching and running a new business Startup company Provide a service Business Venture

4 Microeconomics The part of economics concerned with single factors and the effects of individual decisions. Analyzes the market behavior of individual consumers and attempts to understand the decision-making process the consumer goes through. Supply and Demand

5 Macroeconomics The branch of economics that studies the behavior and performance of an economy as a whole. Creating economic stability. Will reduction in taxes stimulate the economy? Will war stimulate the economy?

6 Opportunity Cost The loss of potential gain from other alternative when on alternative is chosen. Trade offs

7 Resource A Stock or supply of money, materials, staff, and other assets that can be drawn on by a person or organization in order to function effectively.

8 Scarcity The state of being scarce or in short supply.