research and development accounting sales and marketing A/an is a framework of how a business intends to generate revenue competitive advantage entrepreneurial mindset business model revenue plan profitability analysis create value by performing activities that deliver some benefit to the customer, such as automotive repair, banking, health care and massage therapy Competitively-advantaged Manufacturing Intangible goods-producing businesses Service businesses Capital-intensive businesses An economic system where individuals own and operate the majority of businesses with limited economic intervention by the government is a characteristic of a economy. Communist free-market planned socialist mixed-market refers to the quantities of products or services that producers are willing to provide at different prices at a specific time. Market price Competition Demand Equilibrium Supply A seller may decide to lower prices for its goods or services in order to stimulate Inventory Yield Supply marketing expenditures demand is the Willingness and ability of customers to buy a product or service at a given price, Equilibrium Inflation Competition Market price Demand What is the point at which the quantity supplied equals the quantity demanded? Fixed Equilibrium supply/demand crossover balancing marginal