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Definition
| System to control a business' finances |
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| American's With Disabilities Act |
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| Rules that are regulated by a government agency |
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| Any item that has cash value |
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| Statement of a business' assets, liabilities, and owners equity |
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| Statement that lets customers know what to expect of a company |
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| Money, Buildings, or Equipment used to run a business |
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| Philosophy that is driven by marketplace and competition with limited government involvement |
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| Monthly statement that shows when cash will go in and out of a company |
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| Government controls all factors of production and makes all decisions |
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| Philosophy where the government owns all industry and provides for it's people |
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Definition
| Businesses trying to gain customers, keep them, and take others from competitors |
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Definition
| Legal entity that is owned by several people (stockholders) that have limited liability |
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| Amount spent to produce goods that are to be sold |
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Term
| Customer Relationship Management |
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Definition
| Combines Marketing Info Managment with Customer Service. Achieved through communication |
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Definition
| Belief that the customer is most important priority of the business |
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Definition
| Amount of an item that consumers are willing to buy at a given price |
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Definition
| Cash payment of profits from corporation to its shareholders |
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Definition
| Tangible items of monetary value |
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Definition
| Individual's value as a stockholder within a company |
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Definition
| Values and Principles that guide decisions |
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Term
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Definition
| Intro and overview of info contained in a written plan |
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Term
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Definition
| Resources (Land, Labor, Capital, Entrepreneurship |
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Term
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Definition
| Overseeing revenue, expenses, budgets, and financial statements of a business |
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Definition
| Business expenses that are always the same |
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Definition
| Agreement with a company to use their name and sell their products in a given area |
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Definition
| Owner of the franchising parent company |
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Term
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Definition
| Generally Accepted Accounting Practices refers to the standard guidelines used in financial accounting |
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Term
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Definition
| Each partner has unlimited liability |
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Definition
| Way for government to borrow money from people. These have a set interest rate and a maturity date |
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Definition
| Measure of the total output of goods and services produced by a country |
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Definition
| Total sales of a given time period |
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| Human Resource Management |
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Definition
| Managers keeps records on hiring/firing, training, evaluations, and discipline record |
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Term
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Definition
| Someone steals from another then applies for credit or electronically steals funds |
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Definition
| Statement of a business' income and expenses over a period of time |
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Definition
| When prices rise. Low inflation=Stable economy |
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Definition
| Uses data to make management decisions |
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Definition
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Definition
| Doing what needs to be done without being prompted |
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Definition
| Form of risk management known as transfer. Company covers any loss |
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Definition
| Adherence to moral and ethical principles; honesty |
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Definition
| Fee paid for borrowing money |
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Definition
| Way to gain experience that may/may not be paid |
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Term
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Definition
| Money is used to make more money |
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Definition
| Form gathering info about potential employees |
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Definition
| Meeting with potential employers to discuss job oppurnities |
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Definition
| Resources of people that work |
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Definition
| All resources from land, sea, or air. (Raw Materials) |
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Term
| Law of Diminishing Returns |
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Definition
| Each additional variable input, output increases at a s diminishing rate |
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Term
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Definition
| Lets employers know that a person is interested in a position |
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Definition
| Refers to all the money that is owed to others by the business |
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Definition
| Each partner is only liable for debt up to amount they invested |
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Definition
| Coordination of resources to reach in organization's goals |
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Definition
| Government is not involved in business or decisions |
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Definition
| Process of planning, pricing, promoting, selling, and distributing products that will satisfy needs and ensure profit |
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Definition
| A person that serves as a source of info and inspiration |
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Definition
| Total sales min. and allowances |
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Definition
| Way of meeting people to build a list of contacts that can be used for future reference |
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Term
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Definition
| Business focuses on factors other then price |
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Term
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Definition
| day to day running of a business |
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Term
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Definition
| Occupational Safety and Health Administration is a government body that provides and enforces safety |
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Term
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Definition
| Costs not directly related to the production or selling of goods |
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Term
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Definition
| Business owned by 2 or more people. Jointly responsible for success or failure |
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Term
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Definition
| Business only focuses on price |
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Term
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Definition
| Another term for market economy |
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Definition
| Amount of money made after all expenses are paid |
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Definition
| Managing specific activities of the business |
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Definition
| Written description of goals and how they will be achieved. |
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Definition
| Prepares a plan and buying the goods the business will need |
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Definition
| Summary of an applicants education, skills, experience |
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Definition
| Potential that a business takes for loss or failure |
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Definition
| Way a business plans to handle any insurable or non-insurable risks |
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Definition
| ecomonic term for limited resources |
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Definition
| Economice and Political philosophy where government provides and owns many industries |
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Definition
| Regularly schedule meetings discussing any updates |
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Definition
| standardized conception helo in common by a group of people |
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Definition
| Tax election that owner may take to run their earnings through shareholders |
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Definition
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Definition
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Definition
| Budget time so all tasks are completed |
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Term
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Definition
| Group or organzation that serves in a given field |
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Definition
| Publication that serves a specific industry |
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Term
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Definition
| Businesses show off product to potential client |
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Definition
| Government borrows moneys from people with maturity rate of 1-10 years |
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Term
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Definition
| Business expenses that change based on number of units that are produced |
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