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Lemonade Day

TermDefinition
goal a specific task or target a person aims to achieve
entrepreneur a business owner
business the selling of goods or services to make a profit
goods things you make and can touch (cookies, pencils, bracelets…)
services acts that you perform for someone (haircut, babysitting, mowing grass…)
profit money gained after expenses are paid
loss when you do not make enough money to cover your expenses
sale transaction that occurs when a good or service is traded for a form of payment
investor a person who lends money in order to make money
loan money that is borrowed, that is expected to be paid back with interest
interest a charge for borrowed money, usually a percentage of the amount borrowed
expenses all costs related to your business
revenue all money that comes into your business
budget a list of all planned expenses and revenue
capital equipment supplies that can be used over and over again
consumables supplies that once used are gone or no longer usable
advertising everything that you do to tell customers about your business or product
customer service how businesses interact with customers and take care of their needs
donation money or goods given to an institution or individual that improves their condition
risk you might make a profit, you might not
productive resources the resources used to make goods and services
Created by: cf_moore