| A | B |
|---|
| Agenda | A list of items to be discussed at a formal meeting.e |
| Angel Investors | Individuals who have capital that they are willing to risk. Angels are often successful entrepreneurs who invest in emerging entrepreneurial ventures, often as a bridge from the self-funded stage to the point in which a business can attract venture capital. |
| Antitrust | Of or relating to legislation preventing or controlling trusts or other monopolies, with the intention of promoting competition in business. |
| Business Plan | A written document detailing a proposed venture, covering current status, expected needs, and projected results for the enterprise. It contains a thorough analysis of the product or service being offered, the market and competition, the marketing strategy, the operating plan, and the management as well as profit, balance sheet, and cash flow projections. |
| Chamber of Commerce | A local association to promote and protect the interests of the business community in a particular place. |
| Command Economy | The government determines what, how, and for whom products and services are produced. |
| Competition | The rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market-share growth. |
| Convenience Product | A type of good that is purchased often by a consumer without involving much exertion or consideration. |
| Creativity | The ability to make new things or think of new ideas |
| Demand | An individual’s need or desire for a product or service at a given price. |
| Determination | The act of coming to a decision or of fixing or settling a purpose. (Not giving up) |
| Domestic | Existing or occurring inside a particular country; not foreign or international. |
| Economic Recession | A significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. |
| Entrepreneur | People who own, operate, and take the risk of a business venture. |
| Entrepreneurial Risk | The possibility of loss, whether the entrepreneur’s loss is from money, customer, or losing their business. |
| Entrepreneurship | The process of running a business of one’s own. |
| Equilibrium Price & Quantity | The point at which the supply and demand curves meet. |
| Flexibility | Able to change to cope with variable circumstances. |
| Gross Domestic Product | The monetary value of all the finished goods and services produced within a country’s borders in a specific time period (GDP is usually calculated on an annual basis.) |
| Home-based Business | A business whose primary office is in the owner's home. The business can be any size or any type as long as the office itself is located in a home. |
| Inflation | A general increase in prices and fall in the purchasing value of money. |
| Innovation | A new method, idea, product, etc. |
| Inquiry | An act of asking for information. |
| Interest Rates | The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding. |
| Market Economy | Individuals decide what, how, and for whom goods and services are produced. |
| Memo | A usually brief written message from one person or department in an organization, company, etc., to another. |
| Mentor | An experienced and trusted adviser. |
| Monopoly | When a company controls all of a market. |
| Optimism | A tendency to expect the best possible outcome or dwell on the most hopeful aspects of a situation. |
| Pessimism | A tendency to see the worst aspect of things or believe that the worst will happen; a lack of hope or confidence in the future. |
| Productivity | The level of output that an industry or company gets from each worker or each unit of input into its products and services. |
| Profit Margin | The amount by which revenue from sales exceeds costs in a business. |
| Retail | The sale of goods to ultimate consumers, usually in small quantities (opposed to wholesale ) |
| Risk Taking | The act or fact of doing something that involves danger or risk in order to achieve a goal. |
| Scarcity | Occurs when people’s needs and wants are unlimited and the resources to produce the goods and services to meet those needs and wants are limited. |
| SCORE | A non-profit organization dedicated to entrepreneurs' education and the success of small business. It is sponsored by the SBA to provide consulting to small businesses. |
| Small Business | Any business that is operated by one or a few individuals. (Employs <100 people.; Represent 99.7% of all employers.) |
| Small Business Administration | Created in 1953, it is an independent agency of the U.S. federal government that aids, counsels, assists, and protects the interests of small business. |
| Solicited Inquiry | When a business or agency advertises its products or services. |
| Start-up | A company that is in the first stage of its operations. |
| Start-up Costs | The costs associated solely with the implementation of a plan, project, or business. Startup cost typically represents the cost incurred prior to the realization of benefits from the plan, project or business. |
| Supply | How much of a good or service a producer is willing to produce at different prices. |
| Trade Association | An association of people or companies in a particular business or trade, organized to promote their common interests. |
| Trade Regulation | A field of law, often bracketed with antitrust (as in the phrase “antitrust and trade regulation law”), including government regulation of unfair methods of competition and unfair or deceptive business acts or practices. Antitrust law is often considered a subset of trade regulation law. |
| Unsolicited Inquiry | If the recipient has done nothing to prompt your inquiry. |
| Vendor | The party in the supply chain that makes goods and services available to companies or consumers. |
| Venture | Is a business undertaking involving risk. |
| Venture Investors | An institution specializing in the provision of large amounts of long-term capital to enterprises with a limited track record but with the expectation of substantial growth. The venture capitalist also may provide varying degrees of managerial and technical expertise. |
| Wholesale | The selling of goods in large quantities to be retailed by others. |
| Yield | Produce or provide. |
