Business and Finance Flashcard

Front

What is a Fulfillment Center?

Back

A warehouse that stores, processes, and ships customer orders.

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What is a Business-to-Business (B2B) transaction?

Back

A transaction where a business sells products or services to another business.

Front

What are common startup and operating costs?

Back

Business Plan, Market Research, Licensing and permits.

Front

What is the difference between a business owner and an entrepreneur?

Back

A business owner manages an existing business and may not always seek new opportunities.

Front

What happens during the Survival Stage of a business?

Back

Sales increase and owners start to cover expenses.

Front

What is a Business Plan?

Back

A document that outlines a business's goals, strategies, and financial forecasts.

Front

What is Market Research?

Back

The process of gathering information about consumers' needs and preferences.

Front

What are Licensing and Permits?

Back

Legal permissions required to operate a business in a specific industry.

Front

What is Profit?

Back

The financial gain after all expenses have been subtracted from revenue.

Front

What is Revenue?

Back

The total amount of money received from sales before any expenses are deducted.