vocabulary

Question 1

an internet phenomenon where strangers learn about a business online and ten decide whether or not to make an investment

Answer 1

Crowdfunding

Question 2

the amount an insurance company makes a policy holder pay as part of any claim

Answer 2

Deductible

Question 3

failure to repay a loan

Answer 3

Default

Question 4

the commitment to get something done

Answer 4

Determination

Question 5

distinguishing a product or service ‘different from anything else’ attracting customers, generating sales,and serving as the foundation for a thriving business

Answer 5

Differentiated offering

Question 6

money paid by a company to a person who owns stock in that company

Answer 6

Dividend

Question 7

a clear, concise,and compelling way to describe a new business or a new business concept in 30 seconds

Answer 7

Elevator Speech

Question 8

questions that prompt more than a yes or no answer

Answer 8

Engaging Questions

Question 9

funds contributed by investors to a business

Answer 9

Equity (Capital)

Question 10

understanding how individuals earn and spend money

Answer 10

Financial Literacy

Question 11

the 12 month period a company uses to report financial results

Answer 11

Fiscal Year

Question 12

costs that do not vary based on units sold by the enterprise

Answer 12

Fixed Costs

Question 13

a computer portal offered by the secretary of state to register a company

Answer 13

Geaux Biz Portal

Question 14

an individuals self commitment to over come obstacles to achieve long term goals

Answer 14

Grit

Question 15

a credit worthy person who promises to make the payment on a loan if the person on the loan cant make the payment

Answer 15

Gurantor

Question 16

a special account where individuals can deposit retirement funds where they can grow tax-deffered

Answer 16

IRA

Question 17

debt owed to someone that is payed monthly

Answer 17

Installment Payments

Question 18

the amount an insurance policy holder receives from an insurance company for a claim

Answer 18

Insurance Claim

Question 19

the individual or business that purchases an insurance policy

Answer 19

Insurance Policy Holder

Question 20

the amount a policy holder pays for an insurance policy

Answer 20

Insurance Premium

Question 21

non physical assets created by individuals or companies that hold the exclusive to commercialize

Answer 21

Intellectual Property

Question 22

give the author the sole right to benefit economically from what he or she wrote

Answer 22

Copy Right

Question 23

gives the inventor the sole right from his or her invention

Answer 23

Patent

Question 24

gives the registering individual or company the sole right to benefit from a brand or image they have created

Answer 24

Trade Mark

Question 25

the federal agency that collects federal taxes and performs audits

Answer 25

IRS

Question 26

the merchandise that a company sells to customers

Answer 26

Inventory

Question 27

a legal decision requiring a person or a company to pay another person or company

Answer 27

Judgement

Question 28

an obligation you have to pay someone else money

Answer 28

Liability