Owning my own business
The simplest form of business ownership, where one person is in charge
What is a sole proprietorship?
This handheld device has changed how businesses communicate and connect with customers.
What is a smartphone?
Businesses provide these opportunities that allow people to earn a living.
What are jobs?
The total amount of money a business makes before expenses are subtracted
What is revenue?
This basic concept is about having limited resources but unlimited wants.
What is scarcity?
Who is buried in Grants tomb
Who is Ulysses S. Grant?
The document that explains what your business will do, who it will serve, and how it will make money.
What is a business plan?
Selling products or services online is called this.
What is e-commerce?
Businesses help communities grow by paying these to the government
What are taxes?
When a business spends less than it earns, it makes this.
What is a profit?
The two main forces in a market economy are these
What are supply and demand?
This nuclear disaster occurred in 1986, resulting in a massive evacuation and long-term contamination in the surrounding area.
What is the Chernobyl disaster?
This is the term for the money you need to start your business, such as savings or a loan
What is startup capital?
Businesses often use these virtual meetings to connect with remote workers.
What are video conferences
A business that gives back to the community or protects the environment is practicing this.
What is corporate social responsibility (CSR)?
A list of what a business owns (like buildings or cash) and owes (like loans) is called this
What is a balance sheet?
This term describes a steady rise in the cost of goods and services over time
What is inflation?
This government agency insures bank deposits up to $250,000 to protect consumers if a bank fails.
What is the FDIC (Federal Deposit Insurance Corporation)?
A type of business where two or more people share ownership and responsibilities
What is a partnership?
This type of energy technology is helping businesses lower costs and be more eco-friendly.
What is renewable energy?
Businesses can offer training programs to workers, improving this for employees.
What are skills?
The money a person or business sets aside to cover expenses is called this
What is a budget?
This type of economy relies mostly on businesses and consumers to make decisions, with little government involvement.
What is a market economy?
The first Apple iPhone was released in this year, revolutionizing mobile technology.
What is 2007?
Before starting a business, you should check this to see if there is a demand for your product or service.
What is market research?
A new tool or idea that improves how businesses work is called this
What is innovation?
Businesses help society by offering these, which solve everyday problems
What are products or services?
This is the amount of money someone owes, such as on a credit card or loan
What is debt?
The money people earn, minus what they pay for taxes and necessities, is called this.
What is disposable income?
Before Spotify and Apple Music, this software was the go-to for illegally downloading music in the early 2000s.
What is Napster?