Core Business Concepts

Vocabulary flashcards covering key fundamental business concepts including supply and demand, opportunity cost, value proposition, break-even point, and SWOT analysis.

Supply & Demand

The mechanism in which price is determined by the interaction between buyers (demand) and sellers (supply).

Opportunity Cost

The value of the next best alternative that you give up when you make a decision.

Value Proposition

The unique value a business promises to deliver to its customers.

Break-Even Point

The point where total revenue equals total cost.

SWOT Analysis

A framework to evaluate internal and external factors affecting a business, analyzing Strengths, Weaknesses, Opportunities, and Threats.