Economics
This is where the two points cross on the economic graph
Wqualibrium
"This" quickly formulate possible business models, product launches, campaigns and variations of, and communicate this with my stakeholders
Lean Cancas
This business has only one person
Entrepreneur
This is a countries economic power. It adds up everthing that is produced. It is not something that tastes bad.
Gross Domestic Product
Mcdonalds is an example of this type of business
Franchise
The amount of a good that buyers
purchase at a higher price is less
because as the price of a good goes
up, so does the opportunity cost of
buying that good.
Demand
This is the first 5 areas on the Canvas model
Problem, Customer Segments, Value, Solution, Channels
This business has two or more people
Partnership
This happens when prices continue to rise costing you more
Inflation
when you become an entrepreneur you sometimes take a lot of this.
Risk
This law shows an upward slope
Supply
a development technique in which a new product or website is developed with sufficient features to satisfy early adopters.
Minimum Viable Product
This business is set up and has a 99 year life, has a President, board of directors and may issue stock
Corporation
When you buy something it is known as this. It rhymes with frost.
Cost
goods or services that their domestic industries cannot produce as efficiently or cheaply as the exporting country.
Import
A, B and C are points on the supply curve. Each point on the curve reflects"this" between quantity supplied (Q) and price (P).
a direct correlation
the one feature or the perceived benefit of a good which makes it different from the rest of the competing brands in the market.
Unique Selling Proposition
What are some risks associated in owning a small business?
Losing money, etc.
refers to a product or service produced in one country but sold to a buyer abroad.
Export
Smiths provides this to their customers
Goods
In the real market place "this" can only ever be
reached in theory, so the prices of goods and services are constantly changing in relation to
fluctuations in demand and supply.
equilibrium
refers to factors that allow a company to produce goods or services better or more cheaply than its rivals.
Competitive advantage
Where do you go to set - up a business and what do you need to operate a business
Local city and a business license
heory in which a limited supply of a good—coupled with a high demand for that good—results in a mismatch between the desired supply and demand equilibrium.
Scarcity Principle
When a new small business is established it helps this?
Economy