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BizWorld vocabulary1

TermDefinition
business a person or group of people who create and sell products and/or services in order to make money
entrepreneur a person who starts a business and is willing to risk loss in order to make money
product something made by humans, machines, or nature.
service work that someone does for another person
revenue money that is made by or paid to a business or an organization
expense money that is used to buy things that a company needs to operate
profit money that is made in by a company
loss money that is spent and that is more than the amount earned or received
rent money that you pay in return for being able to use property that belongs to someone else
salary an amount of money that an employee is paid
profit equation revenue - expenses = profit
sales selling products
resume A piece of paper that shows a person's work experience
entrepreneurial cycle 4 stages of running a business: design, manufacturing, marketing, and sales
Created by: jkdmarmion