The Basics of
Business
Business
An organization that provides goods and/or services to earn a profit.
What is a business?
Prepares individuals for careers in promoting and maintaining health, wellness, and treating illness through a variety of roles.
What is health science?
Founder of Starlink
Who is Elon Musk?
Tangible items such as phones, clothes, and food.
What are goods?
This brand has an iconic bunny mascot that wears sunglasses and carries a bass drum.
What is Energizer?
What is a fixed cost?
The money left after expenses are paid from sales revenue.
What is profit?
Careers that allow you to provide education and training services that serve individuals of all ages across a range of industries.
What is education & training?
Founder of Amazon.
Who is Jeff Bezos?
Intangible activities like haircuts, tutoring, and delivery.
What are services?
Popular fast food chicken franchise, owned by Yum!, was co-founded in 1952 by a well-known Colonel who obtained that title from the US state referenced in the restaurant’s name.
What is Kentucky Fried Chicken?
A specific defined group of consumers that a business aims its product.
What is a target market?
This type of business focus on goals rather than making money, charities, and/or foundations.
What is a nonprofit?
Careers that give you the opportunity to design, develop, manage different types of software programs and hardware.
What is information technology?
Co-founder of Apple.
Who is Steve Jobs?
The percentage of total sales within a specific market or industry that is held by a single company.
What is a market share?
Which bright-orange cheesy snack has cool Chester Cheetah as its mascot?
What are Cheetos?
The quantity of a good or service that consumers are willing to purchase.
What is demand?
Occurs when a company's total expenses and deductions exceed its total revenue.
What is a loss?
Careers that allow you to travel and work with a variety of people all over the world and range anywhere from working in hotels and restaurants to amusement parks.
What is hospitality & tourism?
Founder of Nike
Who is Phil Knight?
Arises when two or more businesses compete with one another to attract customers and gain an advantage.
What is competition?
What cereal in an orange box is advertised as “peanut butter cups, for breakfast?”
What is Reese's Puffs?
A report that shows a companies expenses, and profit or loss over a period of time.
What is an income statement?
Legal agreement between two or more individuals or entities who agree to own and operate a business, sharing profits and losses.
What is a partnership?
Careers that allow you to plan, manage, and move everything from people to company products through a range of transportation services from road to rail and air to water.
What is transportation, distribution, & logistics?
Founder of Fanatics
Who is Michael Rubin?
The department or function responsible for managing an organization's employees
What is human resources?
The doughy mascot associated with canned biscuits, crescent rolls, and other unbaked confectionery has appeared as a balloon in Macy's Thanksgiving Day parades since 2009. The brand, featured in his name, he represents.
What is Pillsbury?
Costs that a business pays to generate revenue.
What is an expense?
The simplest form of business structure, where a single individual owns & operates the business.
What is a Sole Proprietorship?
Careers that allow you to improve the quality and safety of food, cultivating and preserving our natural resources, caring for livestock and other animals.
What is agriculture, food, and natural resources?
First billionaire, becoming one in 1916 through his control of the Standard Oil Company.
Who is John D. Rockefeller?
A business expense that changes in proportion to the level of goods or services.
What are variable costs?
This is a brand of shoes which launched in 1963. They gained significant popularity in the U.S. in the 1960s after a German-American tourist brought them back and sold them in health food stores.
What is Birkenstock?
Shows how much profit a company makes for every dollar of revenue. Shown as a percent.
What is profit margin?