Across
- 4. Someone who starts a business and assumes the risk for it. Example: By opening a lemonade stand and taking the risk, you are the entrepreneur.
- 9. The amount of money spent. Example: A business has an expenditure for purchasing lemons.
- 11. Example: The sugar, ice, cups, & lemons are the inventory of your business.
- 12. Item you buy that you can touch or hold such as food, clothing, toys, furniture, and toothpaste. Example: The lemonade that people buy is a good.
- 14. The item being sold. Example: After using all of the ingredients, the lemonade is your product since it is the thing being sold to the customers.
- 15. Action that a person does for someone else in exchange for money such as haircuts, mail delivery, car repair, and teaching. Example: If you served the lemonade to someone, this would be considered a service.
Down
- 1. To get rid of something for money. Example: At the end of the season, you liquidate the sugar, cups, etc by selling back the remaining inventory for money.
- 2. An amount of money gained over a period of time. Example: The money you receive in return for lemonade is your income.
- 3. How much of something that people want to buy a product or service. Example: Demand for lemonade would be higher on a hot day in which people would want the relief of a cold drink.
- 5. Satisfaction: How happy the consumer is with the product they purchased or the consumer that they used. Example: If the consumer is pleased with the lemonade they drank, they would have a positive customer satisfaction.
- 6. The materials you have which have not been sold yet or things used to make a
- 7. The amount of something that is available to sell. Example: If you made 4 cups of lemonade, then your supply of lemonade is 4 cups.
- 8. A person who buys a product or uses a service. Example: Someone who purchases lemonade is a consumer.
- 10. The amount of money made over a period of time after subtracting expenses. Example: If you earned $10 from selling lemonade but spend $7 to purchase the inventory, your profit is $3.
- 13. The amount of money lost by a company over a given amount of time. The company spends more money that it makes leading to the overall loss. Example: If you purchase a lot of lemons and sugar but only sell 2 cups, you will have a deficit since you didn't make enough money to cover the cost of lemons & sugar.