1) Someone who provides a product or service for someone else for money a) customer b) entrepreneur c) manufacturing business d) buyer e) seller f) service 2) The process of running a business of one's own a) customer b) service c) seller d) entrepreneurship e) product f) partnership 3) People who work for someone else a) customer b) basketball player c) employee d) business owner e) baby yoda f) retail business 4) The most common form of business writing a) word b) docs c) business letter d) memo e) e-mail f) agenda 5) Money made from providing a good or service a) expense b) profit c) loss d) capital e) right on f) income 6) Cost of supplies that are used in a business a) profit b) loss c) expenses d) income e) to much money f) capital 7) Income greater than expenses is a a) loss b) capital c) debt d) profit e) not good f) credit 8) Expenses greater than income is a a) profit b) loss c) capital d) debt e) a free pizza f) credit 9) The exchange of goods or services for money a) transaction b) sales tax c) interest d) investment e) freezie pop f) mark down 10) Making choices and satisfying the wants and needs of consumers a) wants b) need c) market d) economics e) legend of zelda f) utility 11) Things you think you must have a) wants b) needs c) market d) economics e) mario kart f) utility 12) Things you must have in order to survive a) wants b) ice cream c) market d) economics e) diamond pic axe f) needs 13) Customers and the location that business wants to serve a) market economy b) location c) market d) advertising e) publix f) store 14) How much of a good or service a producer is willing and able to produce at different prices a) supply b) demand c) location d) production e) NBA 2k f) cost 15) An individual's need or desire for a good or service at a given price a) supply b) demand c) location d) production e) Madden f) cost 16) Cost associated with beginning a business a) fees b) loans c) start up cost d) credit e) the computer in front of you f) inventory 17) The floor plan of your business a) floorplan b) blueprint c) contruction d) layout e) table for two f) room design 18) A written statement listing the duties and responsibilities of a job a) character b) assements c) details d) structure e) taco bell f) job description 19) Includes the individuals that are interested in a particular product or service and are able to pay for it a) society b) target market c) marketing concept d) customers e) walmart deli f) focus group 20) Companies offering similar or identical products and services to the same group of customers a) customers b) shareholder c) stakeholders d) board of directors e) Wreck it Ralph f) competitors 21) A paid for of communication sent out by a business about a product or service a) public relation b) publicity  c) advertising d) press release e) rental car f) rebate 22) Expenses that a business have every month  a) cash flow b) statement c) debtors d) operating expenses e) snapchat f) creditors 23) A book in which you record the dates, amounts, and names of people or businesses whom you have written checks a) check register b) record c) table d) bank statement e) single with cheese f) sales tax 24) A written document that describes the steps necessary to open and operate a successful business a) customer plan b) financial plan c) business plan d) bank statement e) instagram f) formal plan 25) A short restatement of a report a) statement of purpose b) table of contents c) cover letter d) executive summary e) apps f) title page

Business Terminology

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