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Business vocabulary
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Your lemonade stand is a _________. A large company you might see advertised on TV is an example of a _______
Small business - corporation
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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.
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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).
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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.
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Your friend decides to sell cookies alongside your lemonade.
This is an example of adding a new product to your business.
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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.
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Maybe you decide to offer a discount if someone buys two lemonades.
This is a marketing strategy to attract customers.
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You notice other lemonade stands nearby.
This is your competition.
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Maybe you set a goal to sell 50 lemonades in a day.
This is a specific performance target.
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You and your friend decide to split the tasks of making and selling lemonade.
This is called delegation of responsibilities.
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