The total of all expenses needed to run a business.

The amount of money earned from sales

The money an employee earns for his/her work

A promise to repay a loan within a certain time period.

The amount of money a buyer pays and a seller receives for the purchase of a good or service.

Goods that a business has in stock to sell.

A way of persuading people to want goods or services.

A place where people live, work, trade, and share.

A business has too many widgets in its inventory. What is the most direct way for the business to reduce its inventory and cover the cost of the widgets? Options: Raise the price of other items. Lower the cost of production. Lower the price of the widgets. Pay less taxes.

Lower the price of the widgets.

The freedom to act in a certain way respectfully.

Being accountable for one's own actions and obligations.

Things that occur naturally in the world that are used to make goods.

The people and things needed to produce goods and services.

People who buy and use goods and services.

A model of movement of goods, services, resources, and money in an economy.

A system in which economic decisions are made in markets by people and businesses, with little government influence.

A person who uses resources to start a business.

The labor, skills and abilities of workers.

The things a person likes to do.

Abilities a person has developed and does well.

Work that matches a worker's interests, values and abilities. (Usually for a long time.)

A person who works for an employer.

A business that hires one or more people, usually for a wage or salary.

A written summary of a person's school and work experience.

A discussion (usually face-to-face) to determine whether an applicant is suitable for employment.

A person who requests or seeks something, such as a job.

A card that allows the holder to buy goods and services by taking out a bank loan.

A card that allows customers to electronically and immediately withdraw funds from their bank accounts.

Payments made using an app that allows the user to automatically debit (withdraw) from a bank account.

(Personal Identification Number) A number required when a person uses a debit card.

What is Marketing? Options: Taking your product to a marketplace to check the sales viability., Loss of reputation in business., Spreading word about your business and enhancing brand awareness., Marking money so that it can be easily identified.

Spreading word about your business and enhancing brand awareness.

A dated statement that documents items sold and to what value. “It is assumed that once an invoice is issued, payment will be prompt.

A person or business who is using the services of a business.

The state of owing something to a person or business. (Usually money.)

Written assurance that a product or service will be as described.

Things that contribute to the smooth, distribution and transfer of goods and or services.

The process of discussing and reaching an agreement between parties who have different interests or opinions.

The process of introducing new ideas, methods or products that create value and create positive change in a business or industry.

A general idea about the value, size or cost of something based on a rough calculation.

BizTown Vocabulary Smithson Flashcards

Student preview

61 questions

Show all answers

1.

FLASHCARD QUESTION

Front

ATM

Back

A machine that allows bank customers to deposit or withdraw money without going inside of a bank.

2.

FLASHCARD QUESTION

Front

Balance

Back

The current amount of money in an account.

3.

FLASHCARD QUESTION

Front

Check

Back

A written order to a bank to pay a certain amount of money from a bank account to another person or business.

4.

FLASHCARD QUESTION

Front

Quality Business

Back

A business that tries to meet its customers's needs through continuous improvement.

5.

FLASHCARD QUESTION

Front

Deposit ticket

Back

A written record of money put into a checking account.

6.

FLASHCARD QUESTION

Front

Direct deposit

Back

An electronic transfer of money from one account to another. (Used by employers to pay employees.)

7.

FLASHCARD QUESTION

Front

Net Deposit

Back

The amount of money placed into an account AFTER all deductions.

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