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WorksheetsPricing, Profit, and More Money
Total questions: 14
Worksheet time: 7mins
What is revenue?
Revenue is the money that you take in from customers.
Revenue is the total expenses incurred by a business.
Revenue is the profit made after all expenses are deducted.
Revenue is the amount of money spent on marketing and advertising.
What are expenses?
Expenses are your costs – all of the money you need to spend to be able to sell your product the night of the Marketplace.
Expenses are the profits made from selling products.
Expenses are the total revenue generated from sales.
Expenses are the savings accumulated over time.
What is labor in business terms?
Labor is the amount of time or work required to make your product.
Labor refers to the financial resources needed to start a business.
Labor is the process of marketing and selling products.
Labor is the management of human resources in a company.
What are goods?
Goods are intangible services that cannot be touched.
Goods are tangible items that customers can touch and take home.
Goods are digital products that exist only online.
Goods are items that are only available for rent, not purchase.
What are the four I's in business innovation?
INVENT something new, IMPROVE an existing product, INSPIRE with your talent, IMITATE a product you admire.
INNOVATE a process, INVEST in technology, INCREASE market share, IMPACT customer experience.
IDENTIFY customer needs, INTEGRATE feedback, IMPROVE service delivery, INCREASE sales.
INFORM stakeholders, INCREASE brand awareness, IMPROVE employee satisfaction, INFLUENCE market trends.
What does it mean to break even?
Revenue > Expenses
Revenue < Expenses
Revenue = Expenses = Break even
Revenue + Expenses = Profit
What does it mean if revenue is greater than expenses?
Profit
Loss
Break-even
Debt
What is unit cost?
The total cost of all supplies used in production.
The cost to make one unit you can make from supplies.
The average cost of all units produced over time.
The cost of labor involved in production.
What is start-up money?
Money needed to start a business
Funds for personal expenses
Investment for stock trading
Savings for retirement
What does it mean if revenue is less than expenses?
Revenue < Expenses = Profit
Revenue < Expenses = Break-even
Revenue < Expenses = Loss
Revenue < Expenses = Surplus
What is market value?
Market value is the usual selling price of products similar to yours.
Market value is the total cost of production for a product.
Market value is the price set by the manufacturer for a product.
Market value is the estimated worth of a product based on its features.
Who is an entrepreneur?
A person who takes a vision and sees it through.
A person who only invests money in businesses.
A person who works for a large corporation.
A person who avoids taking risks.
What is a sole proprietor?
A person who runs a business alone without partners.
A type of business that requires multiple owners.
A legal entity that protects personal assets.
A business model that focuses on large corporations.
How do you calculate profit or loss?
Revenue + Expenses = Profit or Loss
Revenue – Expenses = Profit or Loss
Revenue × Expenses = Profit or Loss
Revenue ÷ Expenses = Profit or Loss
