Sugar
Money that your lemonade stand brings in from sales
What is income?
Money that your lemonade stand spends on things like supplies
What is cost/expenses?
This "outside" factor can affect the daily sales of your lemonade stand
What is weather?
Someone who buys a product that is for sale
What is a consumer?
This must be greater than your costs in order for you to make a profit.
What is income?
Money that your lemonade stand can keep after paying all of its costs
What is profit or net profit?
A system for keeping track of how much money is coming in and how much money is going out/being spent
What is a accounting or bookkeeping?
On this kind of day, your customers will be warm and want more lemonade
What is sunny?
Money that your lemonade stand can earn by putting profits into a savings account
What is interest?
The amount of money your lemonade stand spends above and beyond what it made in sales
What is loss or net loss?
If you do this, you customers might decide they can't afford your lemonade and sales might decline.
What is raise your prices?
The four P's of marketing
A plan/tool to keep track of income and expenses so you don't spend above your means
What is a budget?
When there is not enough of an item to go around
What is scarcity?
The amount of an item that is available for sale
What is supply?
The willingness and ability of a consumer to buy goods and services at a specific price
What is demand?
The date and time of our upcoming craft market & bake sale
Sat., March 8
This one word, repeated three times, can make or break your lemonade stand, or any other business for that matter if they're not taking placement of their business into consideration.
What is location?
Competitors often lower this in order to sell more than a rival
What is price?
When a seller sells an item at or below cost to attract customers in hopes they'll purchase other items that are marked up.
What is the loss leader strategy?