Owning a Business

Front

An individual who undertakes the risk associated with creating, organizing, and owning a business.

Back

Entrepreneur

Front

An organization that is set up to help those in need, and may make money, but uses it for the sole purpose to further its goal, not to become rich.

Back

non-profit business

Front

What will most likely happen to the price of groceries in a small town if one grocery store closes?

Back

They will increase.

Front

If the demand for a product is low, what will the seller most likely do?

Back

lower the price

Front

The ice cream company wants to make a profit. The cost of sugar used to make ice cream has increased. The company does not want to raise prices. What will most likely happen to profits for the ice cream company?

Back

profits will decrease

Front

The ice cream company wants to make a profit. The cost of sugar used to make ice cream has increased. The company does not want to raise prices. What will most likely happen to profits for the ice cream company?

Back

profits will decrease

Front

An entrepreneur is someone

Back

who starts a new business.

Front

The money coming into the business is known as...

Back

revenue

Front

Another word for revenue is...

Back

income

Front

Profit =

Back

revenue - expenses