I Can Be an Entrepreneur
Glossary terms from:
Using advertisements (public notices, displays or presentations often based on celebrity endorsements, appeals to authority, bandwagon effects and attractive imagery) to promote the sale of goods or services.
Any activity or organization that produces or exchanges goods or services for a profit.
Money in the form of paper currency or coins (as distinct from checks, money orders or credit).
Decision made or course of action taken when faced with a set of alternatives.
An amount that must be paid or spent to buy or obtain something. The effort, loss or sacrifice necessary to achieve or obtain something.
The quantity of a good or service that buyers are willing and able to buy at all possible prices during a period of time.
One who draws upon his or her skills and initiative to launch a new business venture with the aim of making a profit. Often a risk-taker, inclined to see opportunity when others do not.
Payments for goods and services.
Tangible objects that satisfy economic wants.
Money paid regularly, at a particular rate, for the use of borrowed money.
A piece of work usually done on order at an agreed-upon rate. Also a paid position of regular employment.
Anything that is generally accepted as final payment for goods and services; serves as a medium of exchange, a store of value and a standard of value. Characteristics of money are portability, stability in value, uniformity, durability and acceptance.
The amount of money that people pay when they buy a good or service; the amount they receive when they sell a good or service.
A good or service that can be used to satisfy a want.
Income received for entrepreneurial skills and risk taking, calculated by subtracting all of a firm's explicit and implicit costs from its total revenues.
The money a business receives from customers who buy its goods and services. Not to be confused with profit.
The chance of losing money.
An exchange of goods or services for money.
Activities performed by people, firms or government agencies to satisfy economic wants.
Use money now to buy goods and services.
Effort applied to achieve a purpose or result, often for pay; skills and knowledge put to use to get something done; employment at a job or in a position; occupation, profession, business, trade, craft, etc.