business

Question	Answer
what is an entrepreneur ?	an entrepreneur is someone who starts u a business with a main intention of making money and is willing to take risks.
what is a sole trader ?	someone who owns a business on there own that gets all the profits but has unlimited liability.
what is break even ?	when a business doesn't make a profit or a loss
what does making a profit mean ?	when a business doesn't make a loss and only makes more money that they spent.
what is a franchisee ?	an individual or company that holds a franchise for the sale of goods or the operation of a service.
how does unlimited liability work ?	Unlimited liability means that the business owners are personally liable for any loss the business makes. Sole traders and partnerships often have unlimited liability.
what is batch production ?	Batch production is a method of manufacturing where the products are made as specified groups or amounts, within a time frame
what is job production ?	Job production, sometimes called jobbing or one-off production, involves producing custom work, such as a one-off product for a specific customer or a small batch of work in quantities usually less than those of mass-market products.

Resource summary

	Created by joel levitt over 4 years ago