Business Entrepreneurship vocab quiz 1 Flashcards
Stake
a share or interest in a business, situation, or system
Franchise
authorization to sell a company’s goods or services in a particular place
Equity
every entrepreneur comes into the tank seeking a shark that is willing to pay for equity, or partial ownership, of the company
Capital
wealth in the form of money owned by a person or organization for starting a company or investing
Royalty
payment to the holder of a patent or copyright or resource for the right to use their property
Cash Flow
total amount of money being transferred into and out of a business account
Patent
a government license that protects original ideas. Shark Lori Greiner has over one hundred of them for her inventions
Trademark
a word, symbol, or phrase used to identify a particular company’s product or service
Inventory
a quantity of goods held in stock
Retail Price
the total price charged for a product sold to a customer, which includes the manufacturer’s cost plus a retail markup
Revenue
amounts earned from a company’s sales of products and services to its customers
Wholesale Price
the price that a store or business pays for goods that it will then sell to the public
Purchase Order
commercial document issued by a buyer to a seller for products or services the seller will provide to the buyer
Loan
a sum of money that is expected to be paid back with interest
Profit
a business’s total revenue less its expenses. The bigger the profit, the more likely the Sharks will bite
Margin
the difference between the price at which a product is sold and the costs associated with making or selling the product (or cost of goods sold)
Liquidity
the ease with which an asset can be converted into ready cash
Utility Patent
Protects the way an invention works
