Business Basics
What is an entrepreneur?
A person who starts and runs a business
What are locally sourced ingredients?
Ingredients grown or produced nearby
What is an advertisement?
A message designed to persuade people to buy a product
What is revenue?
The total money a business earns before expenses
What is biodiversity?
The variety of living things in an environment
What does "profit" mean in business?
The money a business makes after expenses are paid.
What does "farm-to-table" mean?
Food that goes directly from the farm to the consumer with minimal processing
What is a logo?
A symbol or design that represents a business
What does "break-even point" mean?
The point where total revenue equals total costs.)
Why is pollination important for food production?
It helps plants reproduce and grow fruits and vegetables
What is a budget?
A plan for managing income and expenses
What is organic farming?
Farming without synthetic fertilizers or pesticides.
What is social media marketing?
Promoting a business on platforms like Instagram and TikTok.
What is a financial plan?
A strategy for managing money in a business
What is composting?
Breaking down organic waste into nutrient-rich soil.
What is the difference between fixed and variable costs?
Fixed costs stay the same, variable costs change based on production
What is a sustainable farm?
A farm that protects the environment and maintains soil health for the future
What is a brand?
The image and identity of a business.
What is the difference between gross and net income?
Gross income is total earnings; net income is earnings after expenses
How does climate change affect farming?
It can lead to droughts, floods, and unpredictable weather patterns
What is a target market?
The group of customers a business aims to sell to.
Name one way technology is used in modern farming
Name one way technology is used in modern farming
What is the purpose of market research?
To understand customer preferences and improve business strategies.
What is a loan?
Money borrowed that must be repaid with interest
What is vertical farming?
Growing crops in stacked layers indoors