6.1
What is Business?
Organization that sells products
What is the Implementation of a New Idea
Innovation
What is an entrepreneur
A person that owns a business
What is Production?
Production is the process to make said products
What are the two types of goods in our world?
Domestic and Foreign Goods
What is a business technique that allows many people to profit off it
Franchising
What dones Finance focus on?
The funds of the business
For your business would you prefer a high output or low output and why?
A high output would allow more of my product to be sold and thus lead to more cash flow
An Underground Economy hides?
From the GDP
What is an example of a marketing strategy
Hint: You see them everywhere
Advertisements
At some point, all businesses that survive and succeed go against businesses Not from their area, that would be called the?
Global Competition
What is the GDP?
The total market values of all goods produced or provided in one year
What are the two types of things business sell?
Services / Products
What are some ways to increase productivity in a business (List at least 2)
Multiple answers
What does GDP stand for
Growth, Development, Product