Study

Ap Business Module 1.1

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  • affordable
    reasonably priced and not too expensive
  • problem-solution fit
    the match between a business's product and the problems of its intended customers
  • value
    the worth a customer assigns to a good or service based on how well it meets their needs and wants
  • problem-solution fit
    the match between a business's product and the problems of its intended customers
  • e-commerce
    buying and selling goods or services primarily through the internet
  • business model
    the way a business provides products to customers and earns money
  • subscription model
    a business model in which customers pay regularly to receive products or services
  • value capture
    when a business charges a price that is greater than the cost of providing the product
  • competitive advantage
    something that allows a business to perform better than its competitors
  • profit
    revenue minus the cost of making the product and operating the business
  • nonprofit organization
    an organization whose goals go beyond making a profit
  • price
    the amount of money a customer pays for a product or service
  • consumer
    the user of a good or service
  • services
    activities or work that businesses provide to customers
  • business
    an organization that produces or purchases goods or service
  • wants
    things that customers desire but do not necessarily need
  • organization
    a structured group of people formed to achieve common goals
  • value creation
    providing a product that solves customers' problems or satisfies their needs and wants
  • willingness to pay
    the highest price a customer would be willing to pay for a product
  • acquire
    to purchase or take control of another business
  • value creation
    providing a product that solves customers' problems or satisfies their needs and wants
  • revenue
    money received from selling goods or services
  • subscription model
    a business model in which customers pay regularly to receive products or services
  • goods
    physical products that businesses sell to customers
  • business opportunity
    a situation in which a business can meet a customer need or solve a customer problem
  • profit
    revenue minus the cost of making the product and operating the business
  • unmet need
    a customer need that is not currently being adequately satisfied
  • aesthetic
    related to appearance or beauty
  • acquire
    to purchase or take control of another business
  • cost
    the amount of money a business spends to make a product or operate the business
  • unmet need
    a customer need that is not currently being adequately satisfied
  • needs
    things that customers require or consider necessary
  • waste
    products or resources that are unnecessarily thrown away or not used
  • price
    the amount of money a customer pays for a product or service
  • intended customers
    the specific customers a business wants to serve
  • labor
    the work performed by people in producing goods or services
  • goods
    physical products that businesses sell to customers
  • innovation
    creating new or improved products or solutions to address problems or needs
  • customer
    the buyer of a good or service
  • needs
    things that customers require or consider necessary
  • willingness to pay
    the highest price a customer would be willing to pay for a product
  • consumer surplus
    the difference between the value a customer places on a product and the price they actually pay
  • consumer
    the user of a good or service
  • labor
    the work performed by people in producing goods or services
  • business opportunity
    a situation in which a business can meet a customer need or solve a customer problem
  • aesthetic
    related to appearance or beauty
  • services
    activities or work that businesses provide to customers
  • revenue
    money received from selling goods or services
  • wants
    things that customers desire but do not necessarily need
  • cost
    the amount of money a business spends to make a product or operate the business
  • affordable
    reasonably priced and not too expensive
  • entrepreneur
    a person who identifies opportunities
    and creates or leads a business
    solves problems
  • competitive advantage
    something that allows a business to perform better than its competitors
  • intended customers
    the specific customers a business wants to serve
  • multinational corporation
    a business that operates in multiple countries
  • e-commerce
    buying and selling goods or services primarily through the internet
  • business
    an organization that produces or purchases goods or service
  • multinational corporation
    a business that operates in multiple countries
  • organization
    a structured group of people formed to achieve common goals
  • innovation
    creating new or improved products or solutions to address problems or needs
  • consumer surplus
    the difference between the value a customer places on a product and the price they actually pay
  • customer
    the buyer of a good or service
  • value capture
    when a business charges a price that is greater than the cost of providing the product
  • transaction
    an exchange in which a customer buys a good or service from a business
  • business model
    the way a business provides products to customers and earns money
  • transaction
    an exchange in which a customer buys a good or service from a business
  • value
    the worth a customer assigns to a good or service based on how well it meets their needs and wants
  • waste
    products or resources that are unnecessarily thrown away or not used
  • entrepreneur
    solves problems
    a person who identifies opportunities
    and creates or leads a business
  • nonprofit organization
    an organization whose goals go beyond making a profit
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