AP Buisness Vocab 1.1
Call Kai
Learn
Practice Test
Spaced Repetition
Match
Flashcards
Knowt Play1/9
There's no tags or description
Looks like no tags are added yet.
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai | Chat |
|---|
No analytics yet
Send a link to your students to track their progress
10 Terms
Organization
a structured group of people formed to achieve common goals
business
an organization that produces or purchases goods then sells them, often for more money than the cost of obtaining them.
customer
the buyer of a good or service
consumer
the user of a good or service
problem-solution fit
the match between a business product and the problems of a intended customer
value
the worth assigned to a good or service based in its perceived fit, with customers needs and wants.
value creation
occurs when a business offers a product that solves customers problems.
value capture
occurs when a business can charge customers a price that exceeds the the cost of providing a product.
revenue
the money received in exchange for goods and services.
profit
the revenue minus the cost of making the product.