Intro to Entrepreneurship

Items that businesses sell that can be physically weighed or measured

• Profit Motive

• Goods

• Services

• Consumer

Tasks that businesses perform or provide for customers

• Needs

• Goods

• Services

• Wants

Items that would be nice to have but are not necessary

• Services

• Profit Motive

• Consumer

• Wants

Money that remains after a business has paid all expenses of running the business

• Profit

• Competition

• Goods

• Services

A business owned by one person

• Sole Proprietorship

• Corporation

• Franchise

• Partnership

Activities that involve the day to day running of a business

• Operations

• Accounting

• IT

• Management

A contract between a parent company and a franchisee to use the name and sell goods such as McDonald's

• Non-Profit

• Franchise

• Corporation

• Partnership

A business owned by two or more people

• Partnership

• Sole Proprietorship

• Franchise

• Corporation

Recording and reporting financial data for a business

• Human Resources

• Accounting

• IT

• Operations

Items necessary for existence

• Wants

• Needs

• Competition

• Profit