Business Vocabulary

Any activity that provides goods or services to consumers for the purpose of making a profit is...

• Goods

• Services

• Trade

• Business

Which is an example of goods provided by a business?

• Soda

• Cars

• Televisions

• All of the above

An action or work performed for monetary compensation is...

• a service

• goods

• a payment

• a loan

What is profit?

• The amount of money a business owners makes after all expenses are paid

• The amount of goods sold by a business owner in a fiscal year

• The amount of services rendered by a business within their community

• The amount of money a business owner lost within a fiscal year

When a business has expenses that exceeded its income, the business has experienced...

• Profit

• Value

• Loss

• Sales

What is value?

• The price a customer pays for a good or service

• The loss a business experiences when expenses exceed income

• The amount of income a business owner retains after paying all the expenses

• The discount a customer can receive on a good or service

A business that provides goods or services to consumers where the profit used to provide public services, advance a cause, or assist others is called a ....

• For profit business

• Entrepreneurship

• Value monitoring business

• Non-profit business

Natural resources, labor, capital, & entrepreneurship are examples of...

• Factors of production

• Income sources

• Non-profit business

• A kick-starter

The primary role in a business that supervises other people's performance is...

• Finance

• Marketing & Sales

• Operations

• Management

The department in a business that provides knowledge, ideas, and analysis to keep up with the competition is known as...

• Marketing & Sales

• Research & Development

• Operations

• Management