Intro to Business Vocab

Front

Money remaining after business expenses.

Back

Profit

Front

Contest between businesses for customers' loyalty

Back

Competition

Front

Items necessary for existence: clothing, food, shelter.

Back

Needs

Front

Items that are nice to have, but not necessary.

Back

Wants

Front

A person who uses goods or services, often the customer.

Back

Consumer

Front

Items businesses sell that can be weighed or measured, like clothing and candy.

Back

Goods

Front

Tasks businesses perform for customers, like haircuts and car washes.

Back

Services

Front

Recording and reporting financial data for a business.

Back

Accounting

Front

Management is...

Back

The process of leading and directing all or part of an organization.

Front

Creating, promoting, and presenting a product to consumers.

Back

Marketing