Business terms

What is the definition of "Profit"?

• Total income generated

• Money earned after expenses

• The amount spent on expenses

Which of the following is an example of a "Revenue Stream"?

• Employee salaries

• • Rent payments

• • Advertising income

What does "SWOT Analysis" stand for?

• Strong Weaknesses, Opportunities, Threats

• Strengths, Weaknesses, Opportunities, Threats

• Strategies, Weaknesses, Opportunities, Trends

In business, "Liabilities" refer to:

• Assets owned by a business

• Debts or financial obligations

• Debts or financial obligations

What is the primary purpose of "Market Research"?

• To increase expenses

• To gather information about consumer preferences and market trends

• To maximize profit

Which term describes the group of potential customers interested in a product or service?

• Profit

• Market

• Revenue

What are "Marketing" activities aimed at?

• Increasing expenses

• Reducing profit margins

• Promoting and selling products or services

How much do you feel like you know about business?

• I'm an expert

• I know a lot because of my family

• I just took this class to learn

• I have no idea on anything about business

• I know some things about business

What is the primary purpose of a "Business Plan"?

• To manage expenses

• To outline a business's goals, strategies, and financial projections

• To track cash flow

What is a "Startup"?

• A well-established business

• A newly established business, often with innovative ideas or products

• A business with declining profits