Willy Wonka and the Chocolate Factory

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

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

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

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?

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

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.

Scarcity The state of being scarce or in short supply.