24/25 BMF Mid Term

Front

What is the definition of a business?

Back

The aspect of making, selling, and providing products in exchange for money

Front

Who is an entrepreneur?

Back

A person who organizes, operates, and assumes the risk for a business venture.

Front

What is a business plan?

Back

A series of documents that serve as a blueprint for building a business.

Front

What is the definition of a market?

Back

Place where products (goods and services) are bought and sold

Front

What is a product?

Back

Anything that can be bought or sold to meet a customer’s want or need

Front

What is a business owned by stockholders who share in profits and losses called?

Back

Corporation

Front

Which type of business is owned and operated by a single individual? Options: Corporation, Sole proprietorship, Partnership, For profit business

Back

Sole proprietorship

Front

What is a form of business owned by two or more individuals who share management and profits?

Back

Partnership

Front

What is the term for an organization that generates income for its owners?

Back

For profit business

Front

What is a company that is created to benefit a public interest called?

Back

Non-profit business