Module 1 Key Vocabulary

Module 1 will feature the following words. These words may appear in quizzes throughout the
course.

Day-to-day operations: Day-to-day operations are the things that happen on normal days in a
business.

An entrepreneur (n): An entrepreneur is a person who takes an idea and turns it into a
successful new business.

Entrepreneurship (n): Entrepreneurship is the making of a new business.

A feature (n): A feature is a noticeable or important characteristic or part of a product.

A function (n): A function is the way a product works.

A good (n) : A good is a type of product that is tangible.

Innovation (n) : Innovation means a new idea or method.

Market research (n) : Market research is the collection and study of information about what
people prefer to buy.

A non-profit (n) : A non-profit is an organization, corporation, or company that does not operate
in order to make a profit.

Operations (n) Operations are activities that happen as part of running a business.

A prototype (n) : A prototype is the first full-size working version of a product.

Risk (n) : Risk is the possibility that something bad will happen.

A Start-up (n): A start-up is a new business that did not exist before.

A service (n): A service is a type of product that is intangible.

A supplier (n): A supplier is a source for goods or services.

Tangible (adj): If something is tangible it can be touched.

A target market (n) : A target market is the people who are most interested in buying a
product.