Economy
Inflation
A person who starts their own business
Entrepreneur
Something that is not required for survival
Want
A=___+____
Liabilities + Equity
The group of people you are trying to sell your product to
Target Market
The point on a graph where supply and demand are equal
Equilibrium
When your business preforms ACTIONS for others, you have a _________ business
Service
When there is more supply than demand it creates a s____________
Surplus
Something that ADDS value to your company
Asset
If you are marketing to old people, the best way to do that would be through _______
True or false: In the law of demand, as prices increase so does demand
False
True or false: most entrepreneurs have a college degree
False
What is a good?
Physical Items to sell
DEBT your company has
Liability
Ad text that provides information and sells the product. It creates intrigue, appeals to the senses, sounds newsworthy, etc.
Copy
Economy where ONE company has almost full control
Monopoly
What are 2 of the 5 P's of entrepreneurship?
People, Passion, Purpose, Profit, Persistence
A business that is very large and has a long chain of command, is generally very expensive to run. The owners do not have all the liability
Corportation
Revenue - Expenses = _____________
Net Profit
The visual aspect of the words printed on a page.
Typography
An economy where both the government and the consumer control the market
Mixed Economy
When creating a business, it is important to satisfy the __________ and ____________ of consumers
Wants and Needs
Where demand is higher than supply that makes a...
Shortage
_______ ___________ finds your net worth and ________ ___________ finds your net profit
Balance Sheet and Income Statement
What are the 4 P's of Marketing
Product, Price, Place, Promotion