Entrepreneurship Flashcard

Front

Entrepreneur

Back

A person who starts and runs their own business

Front

If you earn $5 per week and save $2 per week, how much will you have saved in 4 weeks?

Back

$8

Front

Which of these is NOT a good way to save money?

• Making a budget
• Spending all your money at once
• Keeping track of expenses
• Setting financial goals

Back

Spending all your money at once

Front

What is "profit"?

Back

The money a business makes after paying expenses

Front

If you earn $10 per week and save $2 each week, how much will you have saved in 5 weeks?

Back

$10

Front

Why is it important to have a budget?

Back

To track income and expenses

Front

What is the first step to making a business plan?

Back

Think about what you can do and who needs your skills

Front

What is the most important thing when setting a price for your product?

Back

Making sure the price covers costs and makes a profit

Front

What is the best way to grow your money over time?

Back

Investing and saving

Front

When pitching a product, what should you do first?

Back

Clearly explain what problem your product solves