ENTR 1 Module 2 Vocab

the state of describing the exact nature, scope, or meaning of something empathizing: understanding and sharing the feelings of another

• licensing

• defining

• testing

• ideating

forming an idea; thinking

• defining

• empathizing

• business plan

• ideating

making a first, typical or preliminary model of something, especially a machine, from which other forms are developed or copied

• ideating

• testing

• prototyping

• defining

taking measures to check the quality, performance, or reliability of (something), especially before putting it into widespread use or practice

• testing

• ideating

• defining

• prototyping

income remaining after deduction of taxes and other mandatory charges, available to be spent or saved as one wishes.

• Disposable Income

• Operating Expenses

• Tariff

• Price Discrimination

refers to the use of government spending and tax policies to influence economic conditions, especially macroeconomic conditions, including aggregate demand for goods and services, employment, inflation, and economic growth.

• Licensing

• Price Discrimination

• Private Sector

• Fiscal Policy

grant a license to (someone or something) to permit the use of something or to allow an activity to take place

• Defining

• Licensing

• Subsidy

• Environmental Scanning

the action of selling the same product at different prices to different buyers, in order to maximize sales and profits

• Fiscal Policy

• Price Discrimination

• Prototyping

• Tariff

the part of the national economy that is not under direct government control

• Private Sector

• Subsidy

• Public Sector

• Tariff

the part of an economy that is controlled by the government

• Private Sector

• Licensing

• Prototyping

• Public Sector