Marketing
What is marketing?
Answer: The process of promoting and selling products or services.
What is Revenue?
Income Received from sales
What is an entrepreneur?
A person who starts and operates their own business.
Question: What is a balance sheet?
Answer: A financial statement that shows a business's assets, liabilities, and owner's equity at a specific point in time.
The money you earn in your savings account each month is called ______.
Interest
What is a target market for a toy company?
Children or Parents with young kids
What are expenses?
The costs a business pays to operate, such as supplies, rent, or advertising.
Question: What is one risk an entrepreneur faces when starting a business?
Answer: Losing money, not finding customers, competition, etc.
Question: What is an asset?
Answer: Something a business owns that has value.
Question: What is the stock market?
Answer: A place where people buy and sell stocks.
What is one advantage of door-to-door sales?
It allows businesses to speak directly with potential customers and answer questions.
What is an income statement?
A financial statement that shows a business's revenues, expenses, and profit over a period of time.
Question: What does it mean to identify a business opportunity?
Answer: Finding a problem that can be solved with a product or service.
Question: What is a liability?
Answer: Money that a business owes to others.
Question: True or False: Buying a stock means you own part of a company.
Answer: True.
What is social media marketing?
Using social media platforms to promote a business.
What formula is used to calculate profit?
Revenue - Expenses = Profit
A student spends $200 on equipment to start a lawn care business. What type of cost is this?
Startup Cost
Question: A business owns $5,000 worth of equipment and owes $1,500 on a loan. What are its liabilities?
Answer: $1,500.
Question: If you buy a stock for $20 per share and sell it for $30 per share, how much profit do you make per share?
Answer: $10.
A student starts a lawn-mowing business and hands out flyers around their neighborhood while also posting videos on TikTok. Name two marketing strategies they are using.
Answer: Flyer advertising and social media marketing.
What does the term "Break Even" mean?
When revenues = expenses
What is the difference between a product and a service?
A product is a physical item; a service is work performed for a customer.
Question: A business has assets of $10,000 and liabilities of $4,000. What is the owner's equity?
Answer: $6,000.
The time period you have to pay back your balance on your credit card before being charged interest is called the _____ period.
Grace Period