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#Business #Basic #Terms
Flashcards
10 cards
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Practice quiz
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Host live
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Questions
10
Answers
1
What are one of the disadvantages to beginning your own business?
You earn money
You get to make your own ideas
Success is never guaranteed.
You could invest loads of money and time into it.
2
Whats one important thing you can do to help start a business ?
Research on the stock market
Find a gap within the stock market
dream on
Get on with it
3
How do you work out your revenue?
How much your product costs x how many you sold = revenue
Product x quantity = revenue
How many sold - cost of product x profit = revenue
Quantity - how many sold = revenue
4
What one of these will help you within the long run of your business?
Sitting around
Nothing
Being bilingual
Loyal customers
5
What are one of the benefits to beginning your own business?
Losing money
Being your own boss & able to make your own ideas with help
taking risks
Profit
6
How do you work out profit?
Annual sum from three years ago x cost of product = profit
Revenue - cost of product = profit
profit isn't a thing
Revenue + profit = profit
7
How do you work out your percentage difference?
New value + old value divided by current value =%
New value - old value divided by old value x 100 = your %
Old and new x old x 100 = %
old value x old value + new value x 100 = %
8
Why do new business ideas come about?
Because they do
Consumer wants and needs
they don't
Changes in technology
9
What kind of people are entrepreneurs?
People with perserveance
Lazy people
immature
Risk takers
10
what's the purpose of market research?
Inform business decisions
Identify gaps in the market
Reduce risk
Understand customer needs
