| A | B |
|---|
| Entrepreneur | An individual who undertakes the risk associated with creating, organizing, and owning a business |
| Entrepreneurship | The process of starting and operating one's own business |
| Small Business | Any business that is operated by one or a few individuals. Employs less than 100 people and represent 99.7% of all employers |
| Small Business Owner | The owner of a business that was generally started to create jobs for the owners and referred to as a "mom and pop" business |
| Opportunity | An idea that has commercial value |
| Venture | A business undertaking involving risk |
| Innovation | Something newly introduced, such as a new method or device |
| Risk | The potential of loss |
| Profit | The money left after all expenses of running a business have been deducted from the income |
| Monopolistic | Many sellers produce similar, but differentiated products |
| Monopoly | One seller has control over supply and price |
| Oligopoly | Just a few competing firms |
