Unit Two

Question 1

an internet phenomenon where strangers learn about a business online and then decide whether or not to make an investment

Answer 1

Crowdfunding

Question 2

the amount an insurance company makes a policyholder pay as part of any claim

Answer 2

Deductible

Question 3

failure to repay a loan

Answer 3

Default

Question 4

the commitment to get something done

Answer 4

Determination

Question 5

distiguishing a product or service “different than anything else” attracting customers

Answer 5

Differentiated Offering

Question 6

money paid by a company to a person who owns stock in that company. ;optional-many companies don’t pay; Typically paid every 3 months

Answer 6

Dividends

Question 7

a clear concise compelling way to describe a business or new business concept in 30 seconds

Answer 7

Elevator Speech

Question 8

funds contributed by investors to a business

Answer 8

Equity (Capital)

Question 9

open-ended questions that prompt more than a “yes” or “no” answer

Answer 9

Engaging Question

Question 10

understanding how indivduals and businesses earn money and what they spend money on

Answer 10

Financial Literacy

Question 11

the 12 month period a company uses to report financial results

Answer 11

Fiscal year

Question 12

costs that do not vary based on the units sold by the enterprise

Answer 12

Fixed Cost

Question 13

a computer portal offered by the Louisiana Secretary of State that enables entrepreneurs to go to a single source to which forms that need to file

Answer 13

geauxBiz Portal

Question 14

an individuals self commitment to over come obstacles to achieve long term goals

Answer 14

Grit

Question 15

a credit worthy individual or business with sufficient liquidity that promises to repay a loan if the debt holder cant make a required payment

Answer 15

Guarantur

Question 16

a special account where individuals can deposit retirement funds that can grow tax-deferred until they withdraw them after they retire.

Answer 16

Individual Retirement Account (IRA)

Question 17

debt owed to someone that is paid monthly

Answer 17

Installment Payment

Question 18

the amount an insurance policy holder receives from the insurance company to reimburse the policy holder for a covered loss

Answer 18

Insurance Claim

Question 19

the individual or business that purchases an insurance policy for various types of protection

Answer 19

Insurance Policy Holder

Question 20

the amount a policy holder pays for an insurance policy

Answer 20

Insurance Premium

Question 21

non-physical assets created by individuals or companies that hold the exclusive legal right to commercialize

Answer 21

Intellectual Property

Question 22

give the author sole right to benefit commercially from his/her invention

Answer 22

Copyright

Question 23

gives the inventor the sole right to benefit commercially from his/her invention

Answer 23

Patent

Question 24

gives the registering individual or company the sole right to benefit from a brand or image he/she created

Answer 24

Trademark

Question 25

the federal agency that collects federal taxes and perform audits

Answer 25

Internal Revenue Services (IRS)

Question 26

the merchandise that a company sells to customers

Answer 26

Inventory

Question 27

a legal decision requiring a person or company to pay another person or company

Answer 27

Judgement

Question 28

an obligation you have to pay someone else money | Also called a debt or loan

Answer 28

Liability

Question 29

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Answer 29

Micro Enterprise