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9 Cards in this Set
- Front
- Back
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Definition of a entrepreneur |
Someone who recognizes a need in a community and starts a business to meet that need. |
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What is the work of an entrepreneur? |
To take the risks and put money into business. Makes important decisions to make business work. |
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What is a middleman? |
A person or business that buys good from manufacturers and sells them to consumers |
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What is a retail business? |
A business that sells finished goods |
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What is a retail? |
When a business acts as a middleman between producers of good and consumers who want to buy the good is called retail. |
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What should retailers do? |
Must buy at lowest price possible so it is resold at a higher price. |
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Give an example of a retailer |
Pick n Pay. |
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Entrepreneurs thats love producing are? |
Creative and prefer to produce goods. |
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What is an overhead? |
Expenses like water, electricity and rent that are essential in running a business but do not directly generate profit. |
