Financial Literacy
When money is owed to another person.
What is debt?
According to google, the average price of this item is $6
What is hair gel?
Something that is exchanged for a product or service
What is money?
A person or group of people who take a risk and start a business
What is an entrepreneur(s)?
When you take money out of your bank account.
What is a withdrawal?
The amount of money you get to keep after expenses.
What is profit?
According to google, the average cost of this hair item is $18
What is hair growth oil?
The money a person makes from their job or business
What is income?
The amount of money that you take home after your expenses
What is profit?
When you put money into your bank account.
What is a deposit?
The ability to borrow money. Takes place between a borrower and a lender.
What is credit?
What is the cost of goods?
Money a person must pay if they borrow money.
What is interest?
(Finish the sentence) In order to have a business you have to sell either a ....
What is a product or service?
A plan for earning and spending over a period of time.
What is a budget?
A person who gives another person money and expects to get it back later.
What is a lender?
According to google, the average price of this type of braid is $150-$600
What is a knotless braid?
Money a business needs to spend to operate.
What is expenses?
A group of people that you target for your business.
Who is a niche/target market?
Checking and Savings
What are the main 2 types of accounts that everyone should have?
A person who is taking money from another person and is planning to give it back later.
What is a borrower?
According to google, the average price of the type of hair style is $130-$800.
What are faux locs?
The market's ability to produce a product and how much a consumer wants a product. This determines how much a product cost.
What is supply and demand?
A statement that states how your business solves your customer's problem
A value proposition
T/F
Your money is safe even if a bank goes out of business
True