WorksheetsIntro to Ag Business Vocab
Total questions: 12
Worksheet time: 5mins
Shortfall that occurs when expenses are higher than revenue over a given period of time.
Budget Deficit
Federal Debt
Economics
Budget Surplus
A financial and social system of how resources flow through society, from production, to distribution, to consumption.
Economy
Economy
Economy
Economy
Money that remains after a business has paid for the expenses of running the business.
Competition
Marketing
Franchise
Profit
A person who uses goods or services. Many times they are also the customer (AKA: purchaser).
Competition
Accounting
Consumer
Sole Proprietorship
Items businesses sell that can be physically weighed or measured, such as clothing and candy.
Goods
Services
Tasks that businesses perform or provide for customers, such as haircuts and car washes.
Goods
Services
The process of creating, promoting, and presenting a product to the consumers.
Competition
Partnership
Information Technology
Marketing
The activities that deal with the hiring, firing, training and other personnel (employee) issues.
Management
Marketing
Franchise
Human Resources
A Sole Proprietorship is...
A business owned by two or more people
A business owned by only one person.
A business whose goal is to provide a service rather than to make a profit, such as the American Red Cross.
A company that does business and has business facilities in many countries, such as Coca Cola.
A Partnership is...
A business considered separate from the owners of the business by law. The owners are the stockholders.
A contract between a parent company and a franchisee to use the name and sell the goods or services of the parent company, such as KFC.
A business owned by only one person.
A business owned by two or more people.
An item that is identical, regardless of the producer
Commodity
Zoning
Conglomerate
Cooperative
The financial responsibility of a business owner to pay the debts of a business
Liabiltiy
Arbitration
Royalties
Commodity
