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4.05Entrepreneurship
| Term | Definition |
|---|---|
| business plan | A proposal that describes a new business. |
| demographics | Data that describes a group of people in terms of their age, marital status, family size, ethnic background, gender, education, and income. |
| entrepreneur | An individual who undertakes the risk associated with creating, organizing, and owning a business. |
| entrepreneurship | The process of starting and operating one's own business. |
| free enterprise system | A system where businesses are owned by private individuals and groups, not by the government. |
| opportunity | An idea that has commercial value. |
| risk | The chance of damage or loss. |
| venture | A business undertaking involving risk. |
| sole proprietorship | A business owned and operated by one person. |
| partnership | A form of business ownership where two or more individuals share assets, liabilities, and profits. |
| corporation | A business that is chartered by the state and legally operates apart from its owners. Owned by stockholders and run by a CEO. |
| franchise | The right to sell a company's goods or services in a particular geographic area. |
| retail business | A type of business that sells products directly to consumers. |
| non-profit | An organization that is set up to help those in need but not to make a profit from the business. |
| service business | Work done for others for a profit. |
Created by:
jandradillon
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