ESB V2 Prep 30 Flashcards

Front

An expense refers to

Back

Anything a business has to spend money on to keep running, such as supplies, rent, salaries, or  equipment. 

Front

Revenue refers to

Back

Amount of money a business receives during a specific time period before expenses.

Front

Intellectual Property such as patents protect

Back

Inventions

Front

Intellectual Property such as copyright protect

Back

Artistic Works such as a drawing or song lyrics

Front

Intellectual Property such as trademarks protect 

Back

Brand names such as how Patterson Farm trademarked the name Agmagination for their kid size town

Front

Break even point refer to the money made from sales where

Back

We made just enough money to cover our costs, but did not make a profit

Therefore we did not lose any $ during sales, but we did not make any $

Front

A retailer business is

Back

A business that buys goods in small amounts, often from wholesalers, then resells those goods directly to  consumers who are the final buyers.

Front

This type of business creates goods

Back

Producer or Manufacturer

Front

B2B Company

Back

Sells goods or services to other businesses also known as industrial users

Front

B2C Company

Back

Sells goods or services to consumers