

Business Concepts and Terminology
Flashcard
•
Business
•
10th Grade
•
Practice Problem
•
Hard
TYANA OSGOOD
FREE Resource
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30 questions
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1.
FLASHCARD QUESTION
Front
Entrepreneur
Back
A person who starts and runs a business, taking on financial risks in order to do so.
2.
FLASHCARD QUESTION
Front
Pros of Being an Entrepreneur
Back
Being your own boss, having the potential for unlimited earnings, and the ability to turn your passion into a career.
3.
FLASHCARD QUESTION
Front
Cons of Being an Entrepreneur
Back
Financial instability, long hours and hard work, and the risk of failure.
4.
FLASHCARD QUESTION
Front
Franchise
Back
A business model in which a company allows an individual to use their name, products, and processes in exchange for a fee and ongoing royalties.
5.
FLASHCARD QUESTION
Front
B2B/B2C
Back
B2B stands for business-to-business and refers to transactions between businesses, while B2C stands for business-to-consumer and refers to transactions between businesses and individual consumers.
6.
FLASHCARD QUESTION
Front
Mission Statement
Back
A statement that defines a company's purpose, values, and goals.
7.
FLASHCARD QUESTION
Front
Nonprofit
Back
An organization that is not operated for the purpose of making a profit, but rather to achieve a specific social or charitable goal.
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