Shark Tank Stars
This person starts and runs a business while taking financial risks.
What is an entrepreneur?
Buying goods from another country is called this.
What is importing?
This term refers to how much of a product consumers want to buy.
What is demand?
This is the process of developing, promoting, and distributing products or services.
What is marketing?
This means influencing and motivating others to achieve goals.
What is leadership?
This business ownership type has one owner and full responsibility.
What is a sole proprietorship?
Selling goods to another country is called this.
What is exporting?
This term refers to how much of a product businesses are willing to sell.
What is supply?
These are the four parts of the marketing mix.
What are Product, Price, Place, and Promotion?
This management function involves setting goals and deciding how to achieve them.
What is planning?
This business model allows individuals to operate using another company’s brand and system.
What is a franchise?
A government tax placed on imported goods is called this.
What is a tariff?
This economic measurement shows the total value of goods and services produced in a country.
What is GDP?
A phrase used to represent a company or product is called this.
What is a slogan?
This leadership style involves managers making decisions without employee input.
What is autocratic leadership?
One characteristic commonly found in entrepreneurs.
What is being creative, independent, motivated, or a risk-taker?
This trade restriction limits the amount of a product that can enter a country.
What is a quota?
The value of the next best alternative you give up when making a choice is called this.
What is opportunity cost?
Businesses use this visual symbol to help customers recognize their brand.
What is a logo?
This management skill involves working well with people and communicating effectively.
What are human relations skills?
This business structure can sell stock and protects owners from personal liability.
What is a corporation?
This occurs when companies hire workers or services in another country to reduce costs.
What is outsourcing?
In this economic system, the government controls major business decisions.
What is a command economy?
Gathering and analyzing customer information to make business decisions is called this.
What is market research?
This chart shows positions within a company and who reports to whom.
What is an organizational chart?