Chap. 4
About this set
Created by:
jramirez0418 on August 31, 2011
Classes:
Ms. Ramirez's Entrepreneurship Class
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5 terms
Terms | Definitions |
|---|---|
 Benefit | An improvement in one's condition; an advantage gained by doing or accepting something |
| Cost/Benefit Analysis | A decision-making process in which the costs of taking an action are compared to the benefits; if the benefits outweigh the costs, action may be taken |
| Opportunity | Chance or occasion that can be turned to one's advantage |
| Opportunity Cost | The value of what must be given up in order to obtain something else |
| SWOT analysis | A consideration of a situation based on Strengths, Weaknesses, Opportunities and Threats |
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