8th Grade Business Vocab

offers products to its

customers to earn a profit.

• The President

• A Business

• A Good

• A Service

money a business brings in

• Profit

• Revenue

• Expenses

• Sales

money a business pays out

• Revenue

• Sales

• Profits

• Expenses

the money left after paying expenses

• Profit

• Expenses

• Revenues

• Cash

physical, tangible products a business sells

that satisfy customer needs and wants

• Wants

• Needs

• Goods

• Services

an intangible product that is bought or

sold and satisfies customer needs and wants

• Goods

• Needs

• Wants

• Services

Things we

wish we

could have

• Needs

• Goods

• Services

• Wants

Things

necessary for

our survival

• Needs

• Wants

• Services

• Goods

the process of making or

manufacturing goods and

products from raw materials or

components.

• Sales

• Marketing

• Production

• Processing

is the activity, set of institutions,

and processes for creating,

communicating, delivering, and

exchanging offerings that have value

for customers, clients, partners, and

society at large

• Management

• Production

• Servicing

• Marketing