EC-070
This is the total amount of money a business earns from selling goods or services before any expenses are deducted
What is revenue?
This is a business structure where two or more individuals share ownership, responsibilities, profits, and liabilities.
What is a partnership?
This is a written document that outlines a business's goals, strategies, target market, financial projections, and how it plans to achieve its objectives.
What is a business plan?
This is an organization or entity that provides goods or services to consumers in exchange for money or other forms of value
What is a business?
This is a type of business owned and operated by one individual, who is personally responsible for all debts and liabilities of the business.
What is a sole proprietorship?
This is the amount of money a business has left after subtracting expenses from total revenue.
What is profit?
This is a business structure that combines the flexibility of a partnership with the liability protection of a corporation, meaning owners are not personally responsible for business debts.
What is a limited liability company (LLC)?
This is a brief statement that defines a company's purpose, values, and overall goals, guiding decision-making and aligning employees toward a common objective.
What is a mission statement?
This is a set of key marketing tools that businesses use to promote their products or services, commonly known as the 4 Ps: Product, Price, Place, and Promotion.
What is the marketing mix?
This is a specific group of consumers at whom a company aims its products and services, based on factors like demographics, interests, and purchasing behavior.
What is the target market?
This is a written document that outlines a company's goals, strategies, target market, and financial projections.
What is a business plan?
This is a legal entity that is separate from its owners, offering limited liability protection to its shareholders, and able to raise capital by issuing stocks.
What is a corporation?
This is a strategic planning tool used to identify a company's Strengths, Weaknesses, Opportunities, and Threats to understand its current position and make informed decisions.
What is a SWOT analysis?
This is a financial report that summarizes a company's revenues, costs, and expenses over a specific period of time, showing whether the company is making a profit or incurring a loss.
What is a profit and loss statement?
"This is a financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial position.
What is a balance sheet?
This is a type of business owned and operated by one person, who is personally responsible for all debts and liabilities.
What is a sole proprietorship?
This is a business arrangement where two or more parties agree to collaborate on a specific project or business activity, sharing profits, losses, and control.
What is a joint venture?
This is a condition or circumstance that puts a company in a favorable or superior business position compared to its competitors, often through unique products, services, or business practices.
What is a competitive advantage?
This is an individual who starts and operates a business, taking on financial risks in the hope of making a profit and often driving innovation and growth.
Who is an entrepreneur?
This is an organization or program designed to support the growth of startups and early-stage businesses by providing resources such as office space, mentoring, funding, and networking opportunities.
What is a business incubator?
This occurs when a single company or entity has complete control over an industry, eliminating competition and dominating the market.
What is a monopoly?
This is a set of laws designed to promote competition and prevent monopolies or unfair business practices that could harm consumers or reduce competition in the marketplace.
What is antitrust law?
This is the illegal practice of trading stocks or other securities based on non-public, material information about the company, giving the trader an unfair advantage.
What is insider trading?
This refers to creations of the mind, such as inventions, designs, trademarks, and artistic works, which are protected by law to prevent unauthorized use or duplication.
What is intellectual property?
This is the illegal practice of buying or selling stocks or other securities based on non-public, material information about the company, giving the trader an unfair advantage.
What is insider trading?