Shark Tank Vocab Quiz

Overhead

• Costs that business must pay regardless of its performance.

• Costs that vary with production levels.

• Costs that are only incurred during peak seasons.

• Costs that can be eliminated without affecting production.

Profit

• A business's total revenue less its expenses.

• The total amount of money a business makes before expenses.

• The difference between a business's assets and liabilities.

• The total expenses incurred by a business.

Break Even

• A point in a business venture when the profits are equal to costs.

• A situation where a business incurs losses.

• A strategy to maximize profits.

• A method to reduce operational costs.

Propriety

• Ideas and processes that are protected by patents.

• A type of legal document for business transactions.

• A method of evaluating employee performance.

• A term for public domain works.

Equity

• Partial ownership.

• Total control of assets.

• A type of debt financing.

• A legal obligation to pay taxes.

Market Value

• The price a product would fetch on the market.

• The cost of production of a product.

• The estimated value of a product based on its features.

• The price set by the manufacturer for retail.

Stake

• A type of investment

• Share or Interest in something.

• A legal term for ownership

• A method of measuring risk

Royalty

• A sum of money paid to the patentee.

• A type of government grant for artists.

• A fee for using someone else's intellectual property.

• A tax imposed on luxury goods.

Margin

• A difference between a product's or service's selling point and production costs.

• The total cost of producing a product without any profit margin.

• The amount of profit made on a product after all expenses are deducted.

• The price at which a product is sold to consumers.

Liquidity

• The ability to convert an asset into cash quickly without a significant loss in value.

• The total value of all assets owned by an individual or company.

• The measure of how much profit a company makes relative to its revenue.

• The process of buying and selling securities in the stock market.