Imagine you're starting a lemonade stand. You buy lemons, sugar, and cups. What business term describes these items you purchased?
These are your business costs (or expenses).
After selling your lemonade, you have money left over from what you spent on supplies. What is this called in business?
This is your profit.
Your friend decides to sell cookies alongside your lemonade.
This is an example of adding a new product to your business.
Maybe you decide to offer a discount if someone buys two lemonades.
This is a marketing strategy to attract customers.
You notice other lemonade stands nearby.
This is your competition.
Your grandma offers a loan to help you buy supplies in exchange for a share of your profits later.
This is a form of investment.
You and your friend decide to split the tasks of making and selling lemonade.
This is called delegation of responsibilities.
Maybe you set a goal to sell 50 lemonades in a day.
This is a specific performance target.
At the end of the day, it's helpful to review how many lemonades you sold.
This is data that can help you improve your business in the future.
Your lemonade stand is a _________. A large company you might see advertised on TV is an example of a _______
Small business - corporation
