Business Basics
What is a business?
An organization that sells goods or services to make a profit.
What is a budget?
A plan that shows how money will be earned, spent, and saved.
What is a bank?
A financial institution that stores and manages money.
What is advertising?
Promoting a product or service to attract customers.
What is innovation?
Creating or improving products, services, or processes.
What is a product?
A physical item that a business sells.
What does saving mean?
Setting aside money to use in the future.
What is a debit card?
A card that pays using money directly from a bank account.
What is branding?
The identity of a business including name, logo, and image.
What is technology?
Tools or systems created to solve problems or make tasks easier.
What is a service?
An activity or help a business provides instead of a physical product.
What is an expense?
Money spent on something.
What is digital payment?
Paying using electronic systems like apps or online platforms.
What is a logo?
A symbol or design that represents a business.
What is product innovation?
Creating a new or improved product.
What is profit?
The money a business earns after subtracting costs.
What is income?
Money received from work or a business.
What is the advantage of cash?
It is simple and accepted almost everywhere.
What is a slogan?
A short phrase used to promote a brand.
What is process innovation?
Improving how a product is made or delivered.
What is a target customer?
The specific group of people a business wants to sell to.
Why do businesses create budgets?
To control spending and plan how money will be used.
What is one risk of digital payments?
Security risks like hacking or fraud.
Why is branding important?
It helps customers recognize and remember a business.
How can technology help businesses?
By increasing efficiency, reducing costs, and improving services.