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Vocabulary
Vocabulary
Vocabulary
Vocabulary
Additional Concepts
100
a person who organizes and operates a business or businesses, taking on greater risk than normal
What is Entrepreneur
100
the process of dealing with or controlling things or people
What is management
100
the process of creating, expanding, manufacturing, or improving goods and services
What is production
100
a business that moves goods from one business to another
What is intermediary
100
sole proprietorship, partnership, and corpations
What is three types of business organization
200
An independently owned business that usually has the owner as its manager
What is small business
200
a business owned by two or more people who share its risks and rewards
What is partnership
200
a business that purchases goods from a wholesaler and sells them to the consumer, the final buyer of the goods
What is retailers
200
the process of planning, pricing, promoting, selling, and distributing ideas, goods, and services
What is marketing
200
no partner, all profit goes to you, and no boss
What is three advantages of sole proprietorships
300
the action or process of keeping financial accounts
What is accounting
300
businesses that change raw materials into more finished products
What is processors
300
businesses that makes finished products out of processed goods
What is manufacturer
300
group decision, less risk, and more ideas
What is three advantages of corporations
400
company that is registered by a state and operates apart from its owners
What is corporations
400
the buying and reselling of goods that have already been produced
What is procurement
400
is an intermediary entity in the distribution channel that buys in bulk and sells to re sellers rather than to consumers
What is wholesaler
400
less profit, more people have to agree, can't do whatever you want to do
What is three disadvantages of corporstions
500
a business that gathers raw products in their natural state
What is producer
500
the function of business that involves money management
What is finance
500
a business owned by only one person
What is sole proprietorship
500
corporation
What is the most common form of business organization in the U.S.