Entrepreneurship Vocabulary Review

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

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

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

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

A business that is operating under a new name.

A restriction on goods entering or leaving a country.

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

Contracting with other companies for serives.

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

Personal characteristics that describe a population.

Someone whose job is to bring buyers and sellers together.

Finding new, creative ways of doing things.

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

A business that handles overseas shipments.

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

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

Occurs when demand exceeds supply.

The rivalry among businesses for consumer dollars.

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

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

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

The interconnected economies of the nations of the world.

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

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

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