Micro-Enterprise test 4 Flashcards
an investment worth money; a “financial instrument” indicating ownership
securities
an instrument vehicle. different types of ______ include stocks, bonds, and mutual funds
security
the ability to pursue what you think is right or necessary to do despite temptations to quit
self-discipline
the ability to pursue a task without being told by someone else. Individuals who are self- motivated can find the strength to start and then finish a task without giving up
self-motivation
costs that vary somewhat based on the number of units you sell
semi-variable cost
an individual that owns a company. ___________ are taxed on the profits of the company, and are personally liable for any debts or judgements against the company
sole proprietorship
one of the equal parts into which a company’s capital is divided, entitling the holder to a proportion of the profits
share
an individual or company that owns shares in a company
shareholder
all people or companies associated with an enterprise. Stockholders include internal ________ (employees and shareholders/owners) as well as external ________ (customers, suppliers, community members.
stakeholders
a company that provides a good or service to another company
supplier
the hard work a small business owner puts into forming, founding, and operating his/her business. Small business owners typically work very long hours. ____ is as important as any capital but it’s not a cash investment
sweat equity
the exact customers and market sector the business intends to serve
target market
working with others to address a challenge. Individuals using their skills in harmony with others to complete a task. Effective _______ involves trust among trust members. Collaboration and cooperation
teamwork
fixed cost plus variable cost
total costs
Units time price
total revenue
the practice of operating openly and communicating fully, providing stakeholders with a clear understanding of how your enterprise operates
transparency
assets that are not already pledged as a guarantee to repay another loan
unencumbered
____ refer to the “things” the company sells. Retail stores sell many different types of _____. Service businesses can sell many different services
units
debt that does not include a promise by a guarantor to repay the loan in the event the debtholder is unable to make a required payment. ______ ___ is riskier for the bank or online lending company- therefore the lending party charges a higher interest rate on _____ than it does on secured debt
unsecured debt
costs that vary based on the units sold by your enterprise.
variable cost
shares of ownership in a company
stocks
