10EB - The concept of entrepreneurship (part 1 and 2)
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Horizontales
A b___ o___ is a set of circumstances that has arisen and may enable a human being to achieve success in business.
One example of a competitive advantage is a business offering a broader r___ of goods and/or services than its competitors
A business’ r___ is the amount of money the business has earnt from selling its goods and/or services.
One example of a competitive advantage is a business having lower cost price s___ than its competitors.
An e___ is a person who starts, and assumes the risk of, a business venture in an attempt to make a profit.
___ profit is the amount of money that remains after a business’ cost of sales is deducted from its revenue.
A b___ v___ is a new business activity that involves risk and is carried out in an attempt to make a profit.
G___ are items that are tangible (usually) and able to be sold in a market.
A b___ is any activity that involves one or more human beings creating and selling products (ie, goods and/or services) in order to satisfy the needs and wants of society, while also making a profit.
Cost price structure is how much money needs to be spent to produce and sell goods and services, as compared to how much money is charged for customers to purchase the goods and services (ie, as compared to the s___ p___).
W___ are things human beings desire, but do not require to survive.
A business’ c___ o_ s___ is equal to the direct costs of producing a good or providing a service (ie, costs that can be linked to a specific sale).
Verticales
A c___ a___ is the attributes and/or conditions that place a business in a superior position than its competitors.
A ‘means of exchange’ is a method of p___ for goods and services.
S___ are intangible activities that are able to be sold in a market.
E___ is the process of starting, and assuming the risk of, a business venture in an attempt to make a profit.
C___ are rival businesses that sell similar goods and/or services in the same market.
A m___ is any situation in which potential buyers are in contact with potential sellers and there is a means of exchange.
One example of a competitive advantage is a business having a greater ability than its competitors to adapt to new t___ in a given market or industry.
A business’ e___ are equal to the cost of sales plus other costs, such as the cost of rent, utilities and cleaning.
In the modern world, the most common means of exchange is m___.
N___ are things human beings require in order to survive.
___ profit is the amount of money that remains after a business’ expenses are deducted from its revenue.
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