Exam 3 Flashcards by Ren Rakowski | Brainscape

Q

Profit

A

amount of money left after expenses are paid

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Q

Profit Motive

A

Making decisions on how to use resources that result in greatest profit

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Q

Revenue Stream

A

Activity producing money

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Q

Economics

A

study of goods and services

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Q

Scarcity

A

limited amount of resources

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Q

4 Utility Categories

A

Form
Time
Place
Possession

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Q

Bootstrapping

A

rely on personal income and savings

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Q

Venture Capital

A

money given to start a business

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Q

Venture Capitalist

A

Provides Venture Capital

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Q

Capital

A

companies wealth (money and assets)

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Q

Balance Sheet

A

shows assets and liabilities over time

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Q

3 Sources of Risk

A

Natural
Human
Economic

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Q

3 Other Sources Of Risk

A

Gain or Loss
Controllable
Insurable

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Q

Risk Managing Strategies

A

Avoidance
Transfer
Retention

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Q

Contingency Planning

A

preparation for unexpected emergency

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Q

Risk Assesment

A

Identify and prepare to manage a risk