Expenses & Costs - How to Spend Money Wisely: Crash Course Entrepreneurship

Expenses & Costs - How to Spend Money Wisely: Crash Course Entrepreneurship

Assessment

Interactive Video

Business, Life Skills

11th Grade - University

Hard

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The video discusses the importance of understanding and managing business expenses to avoid failure. It covers operating costs, differentiating between direct and indirect costs, and explains fixed and variable costs. The video contrasts cost-driven and value-driven business models, using examples like No Frills and Ritz Carlton. It also introduces economies of scale and scope, and provides a case study on managing costs in a small business. The importance of expense tracking for profitability and social entrepreneurship is emphasized.

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What new insight or understanding did you gain from this video?

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