Final (Matching) Flashcards
An idea that had commercial value
Opportunity
An individual who undertakes the creation, organization, and ownership of a business
Entrepreneur
Specially designated areas of a community that provide tax benefits to new businesses
Enterprise zones
Money left over after all the expenses of running a business have been deducted from the income
Profit
The process of recognizing an opportunity, testing in the market, and gathering resources necessary to go into business
Entrepreneurship
The point at which consumers buy all of the product that is supplied
Equilibrium
A business undertaking a risk
Venture
A trait of entrepreneurs
Goal oriented
Skills that are used in all jobs when setting up and running a business
Foundational skills
A set of characteristics that identifies a type or a category of person
Profile
The amount of money one puts into a business as capital
Investment
A person with a record of success
Achiever
The buildings, equipment, tools, and other goods needed to produce a product
Capital
The rivalry among businesses for consumer dollars
Competition
People who’s attitudes and achievements others try to emulate
Role models
Customer loyalty
Goodwill
To contract with other companies for services
Outsource
Forming a partnership with another company
Strategic alliance
Finding new ways of doing things
Innovation
Periodicals published for specific types of businesses or industries
Trade magazines
Seller of a franchise
Franchisor
Characteristics that describe a population
Demographics
Periodicals that target people with special interests in a variety of areas
Specialty magazines
Insurance
Liability protection
Partners in the business whose liability is limited to their investment
Limited partners
An unincorporated business with two or more partners
Partnership
A business that is registered by a state
Corporation
Corporations that make money for reasons other than the owners profit
Nonprofit
Owned and operated by one person
Sole proprietorship
A corporation taxed like a sole proprietorship or partnership
Subchapter S
A company structure that protects the owners with the limited liability of a corporation
Limited liability company
The study of how nations allocate scarce resources to the production and distribution of products
Economics
