chapter 1 vocab becoming an entrepreneur
Internship in which a trade skill is taught
what is apprenticeship?
system in which suppliers and consumers control the production, price, of goods
what is Market economy
free enterprise system
what is capitalism
This is not a risk for an entrepreneur
what is financial security?
A problem a nation might try to fix with its economic system
work program to give job experience
what is an internship?
where demand and supply intersect
what is an Equilibrium point
A person who gives free guidance
what is a mentor?
The natural ability to do a particular job
what is aptitude?
Also called a free enterprise system
what is a market economy?
An eco concerned business
What is a Green Company?
transaction where both parties benefit
what is Voluntary exchange
picture of a wanted future
what is a vision?
This a dot-com business
What is an online business?
Its builds wealth and financial independence
what is profit?
The creator/runner of a business
What is an entrepreneur?
incentive that encourages entrepreneurs
what is Profit motive
not enough goods
what is Scarcity
The percentage a business owner that uses their own money
what is 40-60%
The United States economy is described as a ?
what is a socialist economy?
To give employees freedom to explore new ideas
What is intrapreneurship?
price where supply meets demand
what is equilibrium price
evaluating strengths and weaknesses
what is self assessment?
They are responsible for the success or failure of the business
what is an entrepreneur?
Uses any profit it earns to further its social mission
what is a nonprofit organization?