ESB Semester Exam Review #2 #6 #11 #21 #25 #34 #40 #43 #49 #52 #55 #60 #62 #65 #67 #73 #77 #79 #84 #86
Variable Costs
Fluctuating costs that a business has depending on production
Owner
The individuals that own the business.
Founder
The person that developed or created a company or organization.
Stakeholder
An individual with an interest in a business.
Service
An intangible service or skill that is performed.
B2C
A business-to-consumer (B2C) transaction.
Burn Rate
A calculation used to measure a business's monthly cash flow.
Salary
A fixed payment amount provided to a full-time employee.
Cash
A government-backed currency used for payments
Patent
A legal method used to protect an invention for a limited time.
Trademark
A practice used to protect brand names, logos, and business names
Marketing Plan
A written plan that outlines a company's marketing strategies.
Contract
An agreement between an employee and a company outlining obligations and terms of employment.
Employee
An individual hired by a company and compensated for their work.
Inventory
Goods a business owns with the purpose of selling.
Profit
The amount of financial gain from a business.
Price
The amount of money charged for goods or services.
Liability
The amount of money owed to an entity.
Gross Profit
The amount of net sales minus the total cost of goods sold
Net sales
The amount of revenue for a given time period, which consists of gross sales minus sales return