Definitions
The act of taking a risk to start a business based on consumer needs.
What is entrepreneurship?
Charles works as head of a major law firm with other people. What is Charles?
A partner
______ is the art of presenting your business to consumers or investors.
Marketing
A quick proposal of your business idea.
What is a business pitch?
A store is shutting down because they were unable to pay their debts. What situation is the store in?
The store is in a state of bankruptcy.
______ is when someone manages a business on their own.
Sole Proprietorship
When the difference of revenue and expenses equal zero.
Sarah made a commercial about a cane that alerts family members if the user falls. What is Sarah doing and who is her target market.
Sarah is marketing a new product. Her target audience is the elderly and their families.
The break-even point is when a businesses expenses are ___ its revenue.
a) greater than
b) less than
c) equal to
c) equal to
What is revenue?
Jason works in a factory. He makes shoes for a company separate from the factory. What does Jason and the factory work as?
Retailers sell goods ____ to its costumers.
directly
The cost of running a business. It does not change based on how much a company makes.
What are fixed operating expenses?
Avery owns an estate, a large corporation, and 5 million dollars in her savings account. What do these items have in common?
These items are all her assets.
____ offers assistance to costumers.
Service
List 3 examples of goods that would be needed for a businesses start-capital.
1. A website
2. Factory costs
3. Employees
4. ect.