Business Basics
A person who starts and runs a business.
What is an entrepreneur?
Ingredients grown or produced nearby.
What are locally sourced ingredients?
A message designed to persuade people to buy a product.
What is an advertisement?
The total money a business earns before expenses.
What is revenue?
The variety of living things in an environment.
What is biodiversity?
The money a business makes after expenses are paid.
What does "profit" mean in business?
Food that goes directly from the farm to the consumer with minimal processing.
What does "farm-to-table" mean?
A symbol or design that represents a business.
What is a logo?
The point where total revenue equals total costs.
What does "break-even point" mean?
It helps plants reproduce and grow fruits and vegetables.
Why is pollination important for food production?
A plan for managing income and expenses.
What is a budget?
A plant or plant product grown and harvested.
What is a crop?
Promoting a business on platforms like Instagram and TikTok.
What is social media marketing?
A strategy for managing money in a business.
What is a financial plan?
Breaking down organic waste into nutrient-rich soil.
What is composting?
Fixed costs stay the same, variable costs change based on production.
What is the difference between fixed and variable costs?
A farm that protects the environment and maintains soil health for the future.
What is a sustainable farm?
The image and identity of a business.
What is a brand?
Gross income is total earnings; net income is earnings after expenses.
What is the difference between gross and net income?
It can lead to droughts, floods, and unpredictable weather patterns.
How does climate change affect farming?
The group of customers a business aims to sell to.
What is a target market?
Drones for crop monitoring, automated irrigation, vertical farming, GMO etc.
What are examples of one way technology is used in modern farming?
To understand customer preferences and improve business strategies.
What is the purpose of market research?
Money borrowed that must be repaid with interest.
What is a loan?
Avoiding the depletion or using up of our natural resources in order to maintain an ecological balance.
What does sustainability mean?