Entrepreneurship and Personal Finance Flashcards

A set of vocabulary flashcards covering entrepreneurship types, socio-economic benefits, mindset comparisons, and personal finance concepts for youth.

Entrepreneurship

The process of developing a business venture to make a profit, centered at its core on value creation for other people.

Entrepreneur

A unique individual who has the innate ability and extraordinary dedication to establish and manage a business, acknowledging all the risks and reaping its rewards.

Technopreneur

An entrepreneur who places technology at the core of the business model.

Social Entrepreneur

An entrepreneur who is geared towards solving social problems.

Intrapreneur

An individual who generates profitable ideas within an existing organization.

Extrapreneur

An innovator who hops from one company to another as an innovation champion.

Ecopreneur

An entrepreneur who develops environmentally-sustaining enterprises.

Agripreneur

An entrepreneur who develops the agricultural sector.

Employee vs. Entrepreneur Mindset

A comparison of mindsets regarding work, effort, support, and income between an employee and an entrepreneur.

FOMO (Fear Of Missing Out)

Spending money recklessly just to keep up with friends, trends, or parties.

The "Monkey See, Monkey Spend" Trap

Making immediate impulse buys without thinking of long-term consequences.

Digital Temptations

Financial traps such as social media influencers pushing products, hidden in-app purchases in mobile games, and highly deceptive digital scams.

"Buy Now, Pay Later"

Credit card offers that create the dangerous illusion of immediate wealth but lead to massive debt.

The Knowledge-Behavior Gap

The massive chasm between knowing what to do (such as saving money and sticking to a family budget) and actually doing it.

Delayed Gratification

Putting money away physically (like a piggy bank marked "Do not open until Christmas") to build financial discipline.

Piaget's Brain Stages

A framework of brain development asserting that complex financial concepts (like stocks, debt, and 401ks) must be scaffolded appropriately as young minds mature from childhood to their teenage years.