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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 business.
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Entrepreneurship
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The process of recongizing an oppturnity, testing it in the market, and gathering resourcesnesscary to go into business.
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Opportunity
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An idea that has commerical value when are ready and willing to buy that product.
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Small Business
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Mom and pop businesses.
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Venture
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A new business undertaking that involves risk.
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Mission Statement (pg 102)
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A declaration of the specific aspirations of a company the major goals for which it will strive.
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Manager pg ( 307)
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A person who is responsible for directing and controlling the work and personnel of a business, or a particular department within a business.
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Services
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Intangible(nonphysical)products that satisfy consumer's wants and needs.
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Goods
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Tangible(or physical) products of our economic system that satisfy consumers' wants or needs.
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Wants
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Something that you dont have to have for survival but would like to have.
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Factors of production
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The resources business use to produce the goods and services people want.
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