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Lemonade Day
| Term | Definition |
|---|---|
| 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