Basic Business Terms
Tangible iteams that can be bought and sold.
What are goods?
Legal Sturctures for businesses Pro/Cons, Libailitys, Taxes
What is Bussiness Structures?
Study of how people choose with limited resources
What is economics?
What to produce, how to produce, for whom to produce
What are the three economic questions?
A document that explains what your business does.
What is a businesses plan
Any Organization that sells good or services in an attempt to earn profit.
What is Business?
One person has full on control but a high risk and hard to rise Captial
What is Solo Proprietorship?
Limtited sources Vs the wants
What is Scarcity?
An Ecomonics system based on the customors.
What is a Traditional ecomonics system?
a section in your business plan that provides an overview of your business.
What is Company Description?
Putting money back into the Bussines
Where does the profit that Non-Profit businesses earn have to go?
taxes: Pass-through taxation system
What is Partnership?
The vaule of the next alternative.
What is Opportunity Cost?
Government control of the economic system.
What is it Command economic system?
What do we do? Who do we serve? How do we do it? Why does it matter?
What is a Mission Statement?
The total money a business earns from selling its goods.
What is Revenue?
Protects your personal assets from business debts.
What is LLC?
Deteriming price of things in the market
What is Supply and Demand.
Capitalism, socialism, and Communism
What are the three Economic Ideologies?
a collage of different photos to show a mood/brand
What is a Mood Board?
Revenue-Expenses-COGS
What is Profit?
Unlimed shares
What is Corporation?
Surplus
Supply and Demand Driven
What is Market?
Paints a picture of your business's long-term aspirations.
What is Vision Statement?