Definitions
A person who takes a financial risk to start a business
Entrepreneur
If someone went to the grocery store a week ago, and noticed the chips are more expensive. What is this an example of?
Variable expenses
Sally works for a business and gives her ideas to her boss. Who's the entrepreneur?
The boss
I am going to make a plan for my business to make it successful. What are they doing?
Creating A Business plan
A business in your market that sells a similar item
Direct Competitor
The Joann company closed down due to having no more money to support the business. What is this an example of?
Bankruptcy
Jack runs a business that he inherited from his father, who got the business from his father. Who are the entrepreneur(s)
Jack, his father, and his great grandfather.
I am going to start a car shop and fix cars. What are they doing?
A Service
A specific group of customers that are most likely to buy a product
Target Market
A donut shop sells 1 box of donuts for a regular price. Another donut shop sells 2 boxes of donuts for the same price. What is this an example of?
Unit Of Sale
Clair is seeing if starting a business is better than working for someone else, so she is going to watch someone who runs the business. Who is the entrepreneur?
The person who runs the business
"I am not able to pay the bills anymore for my business." What are they saying?
The business in in bankruptcy
Expenses that change from month to month
Variable Expenses
A jewelry store needs to save money for better supply's and more products. What are the jewelers going create to save money?
A budget
At a restaurant the worker comes up with a new food that people like, but the boss says no to it because the ingredients are to expensive. Who's the entrepreneur?
The boss
I live in a very rainy place, so I am going to start a business that sells umbrellas and rain jackets. What is this person showing? (there are 2)
Entrepreneurship, and Target Market