Key Words (Junior Cert Business Studies): Flashcards

A record tracking money coming in and going out

Amount of money in an account at a given moment

Financial plan showing expected income and planned spending

Money left after a business pays all expenses

When a business spends more than it earns

Ability to spot business opportunities and take risks

Person who starts and runs their own business, taking risks

Businesses trying to win customers with better offers

Where buyers and sellers meet to exchange goods/services

Quantity businesses are willing to sell at different prices

Quantity customers want to buy at different prices

When general price level of goods and services increases

23%

Payment calculated by hourly rate times hours worked

Fixed monthly/yearly payment regardless of hours worked