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11 Cards in this Set
- Front
- Back
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Entrepreneur
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An individual who undertakes the creation, organization, and ownership of a business.
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Entrepeneurship
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The process of recognizing an opportunity, testing it in the market, and gathering resources necessary to go into business.
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Opportunity
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An idea that has commercial value when consumers are ready and willing to buy that product.
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Small Business
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"Mom and Pop".. own businesses
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Venture
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A new business undertaking 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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A person who is responsible for directing and controlling the work and personal of the business.
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Services
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Intangible (non-physical) products that satistfy consumers' wants and needs.
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Goods
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Tangible (or physical) products of out economic system that staitfy consumers' wants and needs.
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Wants
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Something that you do not have to have for survial, but would like to have.
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Factors Of Production
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The resources businesses use to produce the goods and services that people want.
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