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BizWorld Vocab #3

BizWorld Vocabulary #3: Session 5-8

TermDefinition
design plan or create something artistically
venture capital money received from a Venture Capitalist
prototype a full-scale model of a new product or new version of an existing product
cash on hand cash that the company has at a particular time
retail price of goods in small quantities; not intended for resale
wholesale price of goods in large quantities; sold for the purpose of resale
job shop a process where one person produces a product from start to finish
assembly line a step-by-step process where many people produce a product by having each person perform a specific task
manufacturing the making of goods
loan a sum of money borrowed and repaid with interest
debt something owed, such as money, products, or services
interest fee paid for borrowing money
stock market place where stocks are bought and sold
inventory the number of finished products a company has on hand
scarcity shortage of supply
Created by: jkdmarmion