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19 Cards in this Set
- Front
- Back
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A place where buyers and sellers can meet to facilitate the exchange or transaction of goods and services. |
Market |
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doctrine states that the market is a free market where the producers and consumers act in accordance to their own interest. |
Adam's Smith's Laissez Faire |
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is a basic economic concept involving the buying and selling of goods and services, with compensation paid by a buyer to a seller, or the exchange of goods or services between parties. |
Trade |
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is the exchange of goods and services, especially on a large scale |
Commerce |
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Businesses bring "specialized" people, equipment, and other resources together and coordinate the production of goods and services. |
Product or Service Specialization |
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This means business grows and production units increased, a business will have a better chance to decrease its cost. |
Economies of Scale |
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is defines as a benefit or cost that is imposed on a third party, such as society, other than the producer or consumer of a good and service or more simply and economic side effects. |
Positive and Negative externalities |
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in the simplest terms, is a packaged business investment that allows the buyer to begin a business |
business opportunity |
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Agreement to offer and sell the product of another. |
Distributorship |
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Agreement with the parent company to market their goods to various stores by means of strategically-located store racks. |
Rack Jobbing |
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Businessperson must buy the machines as well as the merchandise being sold in them. |
Vending Machine Routes |
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The fundamentals of the model revolve around creating content that people want to read or watch and then displaying advertising to your readers or viewers. |
Advertising |
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uses links embedded in content instead of visual advertisements that are easily identifiable. |
Affiliate |
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It businesses connect buyers and sellers and help facilitate a transaction. They charge a fee for each transaction to either the buyer or the seller and sometimes both. |
Brokerage |
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You are selling the recipe for starting and running a successful business to someone else. You're often also selling access to a national brand and support services that help the new franchise owner get up and running |
Franchise |
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Allow sellers to list items for sale and provide customers with easy tools for connecting to sellers. |
Marketplaces |
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Instead of pre-purchasing a certain amount of something, such as electricity or cell phone minutes, customers get charged for actual usage at the end of a billing period. |
Pay-as-you-go |
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It is like renting. At the end of a lease agreement, a customer needs to return the product that they were renting from you. |
Leasing |
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refers to a company's plan for making a profit. It identifies the products or services the business plans to sell, its identified target market, and any anticipated expenses. Busin |
Business Model |
