Lemonade War Vocab Ch. 1-5

Front

What is a salute?

Back

A wave or gesture of respect.

Front

What is a miser?

Back

A person who hoards or hides wealth, and spends as little as possible.

Front

What is a partnership?

Back

Two or more people working together to run a business, and agreeing to share the profits and losses.

Front

What does slump mean in a business context?

Back

A drop in the activity of a business or the economy.

Front

What is a joint venture?

Back

An agreement between two or more parties to work together on a specific project or business activity.

Front

What is the importance of teamwork in a partnership?

Back

Teamwork allows partners to combine their skills and resources to achieve common goals.

Front

How can a business recover from a slump?

Back

By implementing new strategies, improving marketing, or reducing costs.

Front

What are the characteristics of a successful joint venture?

Back

Clear objectives, mutual benefits, and effective communication between partners.

Front

What is the role of a business partner?

Back

To contribute resources, share responsibilities, and participate in decision-making.

Front

What are the potential risks of a partnership?

Back

Shared liability, conflicts between partners, and unequal contributions.