Entrepreneurship Vocabulary Review

An individual who undertakes the creation, organization, and ownership of a business.

Acting like an entrepreneur or having an entrepreneurial mind-set.

The process used to test a business concept that helps decide whether a business has potential.

Contracting with other companies for serives.

Occurs when demand exceeds supply.

A set of characteristics or qualities that identifies a type of person.

A document that describes a new business and a strategy to launch that business.

The amount of money a person puts into his/her business as capital.

The rivalry among businesses for consumer dollars.

A business that handles overseas shipments.

Skills that are used when setting up and running a business.

Federal agency that provides services to small businesses and new entrepreneurs.

Someone whose job is to bring buyers and sellers together.

Resources businesses use to produce goods and services that people want.

A tool used for organizing important information about a businesses competition. 

A clear and concise description of an opportunity that contains four elements.

A business that is operating under a new name.

The capital, skilled labor, management expertise, equipment, etc. need to start a new business.

The interconnected economies of the nations of the world.

Something not required for survival but you would like to have.

Point at which consumers buy all of a product that is supplied.

Personal characteristics that describe a population.

The general pattern of expansion and contraction that the economy goes through.

A restriction on goods entering or leaving a country.

Finding new, creative ways of doing things.