F2F Class Notes (Jacob)
Homework
Vocabulary
Assets – something with positive value (house, car, money, person
Depreciation – the degrading value of an asset over time.
Degradation – the worsening condition
Degrading – to do something that below you
Respectful – to show respect to a person
Complain – to speak about something you don’t like
Jealous – to want something that someone else has.
Mortgage – loan for a house
Potential – something that might be
Entrepreneur – someone who organizes, manages and takes on the risk of starting a new business.
- Expense – money spent on supplies, equipment or other investments.
- Fixed Cost – a one-time expense that doesn’t vary with business volume.
- Liabilities – the value of what a business owes to someone else.
- Management – the act of organizing and conducting a business to accomplish goals and objectives.
- Marketing – the process of promoting, selling and distributing a product or service.
- Net Income/Profit – revenues minus expenses.
- Net Worth – the total value of a business.
- Profit Margin – the ratio of profit divided by revenue displayed as a percentage.
- Revenue – the entire amount of income before expenses are subtracted.
- Sales Prospect – a potential customer.
- Service – work done for pay that benefits another.
- Supplier – an organization that provides supplies to a business.
- Target Market – a specific group of customers at which a company aims its products and services.
- Variable Cost – expenses that change in proportion to the activity of a business.
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