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11 Cards in this Set
- Front
- Back
Entrepreneur
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an individual who undertakes the creation, orgoniazation, and ownership of a business
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Entrepreneurship
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the process of recognizing an opportunity, testing it in the market, and gathering recources necessary to go into business
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Opportunity
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an idea that has commecial value when consumers are ready and willing to buy that product
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Venture
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a new business under taking that involves risk
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Mission Statement
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expresses the specific aspirations of a company, the major goals for which it will strive
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Manager
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person who is responsible for directing and controlling the work and personnel of a business or a particular dpt within a business
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Services
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intangible products that satisfy consumers wants and needs
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Goods
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tangible products of our economic system that satisfy consumers wants and needs
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Wants
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something that you do not have to have for every hour he or she works
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Factors of production
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the resoucres business use to produce the goods and services that people want
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small Business
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another name is mom and pops
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