Money - A current medium of exchange in the form of coins or notes., Expense - Expense refers to money spent on utilities or salaries or other items for the buissness. , Profits - Also known as “net income” or the “bottom line”, your profit shows the difference between what a business earns and spends. Calculate profit earned by subtracting total expenses from total revenue., Revenue - Revenue refers to the income generated from a business’s operations and activities. One way to calculate revenue is by multiplying the price of an item by the quantity sold., Net Loss - Using the profit equation, you can calculate a business’s net loss, or when total expenses exceed total revenue and the difference is negative., Fixed Cost - Unlike variable costs, fixed costs stay the same regardless of changes in production. For example, a company pays the same amount in monthly rent., Business to business - transactions take place when a company sells goods or services to another company., Best practice - Best practices are accepted as standard methods for executing a task for how they most effectively produce results., Agenda - the decided intentions of an organisation, Bankrupt - when a company or individual is not able to repay what they owe, Brand - the particular name and connotations associated with a product, Business Loans - taking money from a financial organisation with the plan to return the full amount, usually, with added interest, Cash Flow - the total amount of cash or cash-equivalent going into and out of a business, Competitors - a company that offers a similar service or product in the same market, Consumer - a person who purchases something, Economics - the scientific exploration of how different economies behave and function, Entrepreneur - a person who starts their own business or who attempts to a number of times, Ethics - the moral beliefs and practices of an individual, culture or society, Exchange Rate - the value at which one currency can be converted to another, Fair Trade - an agreement aimed at developing nations in which the company selling a product ensure that those who work to produce it are guaranteed fair working conditions and wages,

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