JA BizTown – Flashcards
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Advertising
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A business expense - a way to persuade people to want goods or services
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After you receive a paycheck, how does the money get into your checking account?
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You have to make a deposit at the bank
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How should "hot items" be priced in a business?
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"Hot items"should be priced higher than other items.
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Inventory
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Goods that a business has in stock to sell.
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Revenue
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The money a business collects from sales.
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Selling price
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The amount of money a buyer pays and a seller receives for a good or service.
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Supplies
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A business expense- items that are in the market that is available for purchase at a particular price.
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To make a profit, does the businesses revenue have to be greater than or less than its costs?
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To make a profit a business is revenue to be greater than its costs.
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True or false? A quality business follows a model of best practices.
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True
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True or false? Charging more for an item guarantees a higher profit.
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False
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True or false? Good advertising only tells people what they want to hear about a product.
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False
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True or false? Net pay is the amount a worker receives from an employer after taxes and other deductions are taken from a paycheck.
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True
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What are characteristics of a good advertisement?
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A good advertisement...*grabs a buyer's attention *holds a persons interest *create a desire for the product *prompts a person to buy the product
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What services are needed by new business?
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A loan and checking account.
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What is the revenue that is left over after paying business costs called?
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Revenue left over after paying business costs is called profit.
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Why is teamwork important to a quality business?
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Teamwork is important because... *Employees who work together can help a business provide good customer service. *It takes all employees to get the tasks done for the business to be successful
