ENTREPRENEURSHIP
A strong business idea usually starts with one of these.
What is a problem?
Name one thing every Vendor Day business should have.
What is...Poster, product, prices, customers, sales pitch
Items you can touch and buy.
What are goods?
Money left after costs are paid.
What is profit?
A person who buys a product or service
What is a customer?
This young entrepreneur created Me & the Bees Lemonade
Who is Mikaila Ulmer?
The word "entrepreneur" actually comes from this language.
What is FRENCH?
A business earns $50 but spent $45. Was Vendor Day successful? Why or why not?
What is...Yes, because it made a profit, although a small one.
If a business spends more money than it earns, it has this.
What is a loss?
A business sells 15 bracelets for $2 each. How much money did it earn?
What is $30?
These words/phrases describe treating customers politely and respectfully.
What is customer service?
This entrepreneur is known for creating all the Apple products like the iPhone, IPad, and the Apple TV.
Who is Steven Jobs?
Name one characteristic of a successful entrepreneur.
What is...Creative, determined, hardworking, risk-taker, problem solver
Halfway through Vendor Day, your business has sold very few products. What are TWO actions you could take to improve sales?
What is...Advertise more, lower prices, offer deals, improve customer interactions
A lemonade stand buys cups, lemons, and sugar. Are these examples of income, expenses, or demand
What are expenses?
A student spends $30 on supplies and earns $24. Did they make a profit or loss and by how much?
What is...A Loss of $6
Name one way to provide good customer service.
What is....Smile, be polite, answer questions, thank customers
This entrepreneur founded Amazon and started by selling books online.
Who is Jeff Bezos?
Two students have the same business idea. What could one entrepreneur do to make their business different from the competition?
What is....Add unique features, better customer service, better prices, better quality, etc.
Why is competition good for customers?
What is...it will give people more choices, better prices, better quality?
Why is a budget important before starting a business?
What is...It helps plan spending and avoid running out of money?
Your business spent $20 on supplies. You sold products and earned $35. What was your profit?
What is $15?
Why is customer service important to a business?
What is...It helps keep customers happy and encourages repeat business.
Besides making money, what positive impact did Mikaila want her business to have?
What is...Raise awareness and help protect bee populations.
This entrepreneur created Facebook while attending university and later bought the company WhatsApp:
a) Steve Balmer
b) Bill Gates
c) Mark Zuckerberg
d) Jeff Bezos
Who is Mark Zuckerberg?
An entrepreneur has a business idea that is very creative, but nobody wants to buy it. What should the entrepreneur do?
What is...Research customer needs and improve the idea (make changes)?
A toy store notices more children want its products than it has available. Which two vocabulary words best describe this situation?
a) availability and inventory
b) supply and demand
c) supply and loss
d) demand and stock
What are supply and demand?
Why is it dangerous for a business to set its prices too low?
What is...It may not earn enough money to cover expenses and make a profit.
A customer says they are unhappy with a product. What is the BEST response?
What is...Politely listen and try to help solve the problem.
This man is the richest man in the world...
Who is Elon Musk?