Entrepreneurship
Form that gathers information about potential employees.
Job Application
The belief that the customer is the most important priority of the business.
Customer Service Mindset
Resources that include money, buildings, or equipment that are used to run a business
Capital
Businesses compete by offering lower prices than their rivals.
Price Competition
Amount of an item producers are willing to produce and sell at a given price.
Supply
A way for business people to meet others and build a list of contacts.
Networking
Form of communication without using words.
Nonverbal Cues
Plan to manage finances
Budget
Businesses focus on factors other than price—like quality, customer service, branding, or convenience.
Non-Price Competition
Amount of an item that consumers are willing to buy at a given price.
Demand
A person's right to own private property, freedom of choice, profit and competition, and democratic institutions (also known as free enterprise or market economy)
Private Enterprise
Regularly scheduled meetings that are held so staff can be provided an update on any projects they may be working on.
Staff meetings
Fee paid for borrowing money
Interest
A statement that lets the customer know what they can expect from a company’s products/services.
Brand Promise
All items that have a cash value and are owned by the business.
Asset
A business model where an individual or company pays for the right to operate under the name, branding, and business system of an established company.
Franchise
A way that people can gain work experience in a given field – may of may not be paid.
Internship
When money is used to make more money
Investments
Goods with measurable economic worth, items like meals, apparel, and automobiles.
Economic Goods
A measure of the total output of goods and services that are produced by a country.
Gross Domestic Product
A person provides the necessary skills, time, and money to start a new business.
Entrepreneurship
Is adherence to moral and ethical principles: moral character
integrity
Business expenses that change depending on the quantity of goods or services a business produces.
Variable Expenses
The process of planning, pricing, promoting, selling, and distributing products that will satisfy the needs of customers and ensure a profit for the business.
Marketing
Includes rules and procedures that are regulated by a government agency.
Administrative Law