Vocabulary Lesson 1. 2019 2020

1. VOCABULARY
LESSON 1

2. ENTREPRENEUR
• A PERSON WHO STARTS A BUSINESS AND IS WILLING (Dispuesta) TO RISK
LOSS IN ORDER TO MAKE MONEY. ONE WHO ORGANIZES, MANAGES
(administra), AND ASSUMES THE RISKS OF A BUSINESS OR ENTERPRISE. THE
WORD ENTREPRENEUR IS DERIVED FROM THE FRENCH WORD
“ENTREPRENDRE” , WHICH MEANS “TO UNDERTAKE” (emprender). IT
ULTIMATELY HAS COME TO MEAN, SOMEONE WHO IS WILLING TO
UNDERTAKE A NEW VENTURE IN ORDER TO PRESENT AN IDEA TO THE
MARKETPLACE.

3. EMPLOYEE
• A PERSON EMPLOYED FOR WAGES OR SALARY. THEREFORE, AN EMPLOYEE IS
A PERSON WORKING FOR ANOTHER PERSON OR A BUSINESS FIRM FOR PAY.

4. ENTREPRENEURSHIP
• ENTREPRENEURSHIP IS THE PURSUIT (búsqueda) OF OPPORTUNITY WITHOUT
REGARD (sin tener en cuenta) TO RESOURCES CURRENTLY CONTROLLED.
INCLUDING BUSINESS SITUATIONS WHERE ONE ENGAGES (involucrado) IN
PROJECTS INVOLVING RISK WHERE PROFIT IS UNCERTAIN.

5. BUSINESS
• BUSINESS (negocio, empresa) IS THE ACTIVITY OF MAKING, BUYING, SELLING
OR SUPPLYING GOODS OR SERVICES FOR MONEY.
• A BUSINESS IS A COMMERCIAL ORGANIZATION SUCH AS A COMPANY
(empresa), SHOP/STORE OR FACTORY.

6. EXPENSE (gasto)
• THE ECONOMIC COSTS THAT A BUSINESS INCURS THROUGH ITS OPERATIONS
TO EARN REVENUE (ingresos). IN ORDER TO MAXIMIZE PROFITS, BUSINESSES
MUST ATTEMPT (intentar) TO REDUCE EXPENSES (gastos) WITHOUT ALSO
CUTTING INTO REVENUES (sin acabar también con los ingresos). BECAUSE
EXPENSES ARE SUCH AN IMPORTANT INDICATOR OF A BUSINESS'S
OPERATIONS, THERE ARE SPECIFIC ACCOUNTING RULES ON EXPENSE
RECOGNITION (existen reglas de contabilidad específicas para el
reconocimiento de gastos).

7. REVENUE
• REVENUE (ingreso) IS THE AMOUNT OF MONEY THAT IS BROUGHT INTO A
COMPANY (que se lleva la empresa) BY ITS BUSINESS ACTIVITIES. REVENUE
IS CALCULATED BY MULTIPLYING THE PRICE AT WHICH GOODS OR SERVICES
ARE SOLD BY THE NUMBER OF UNITS OR AMOUNT SOLD.

8. PROFIT
• PROFIT IS THE MONEY A BUSINESS MAKES AFTER ACCOUNTING FOR ALL THE
EXPENSES (después de contabilizar todos los gastos). REGARDLESS
(independientemente) OF WHETHER THE BUSINESS IS A COUPLE OF KIDS
RUNNING A LEMONADE STAND OR A PUBLICLY TRADED MULTINATIONAL
COMPANY (una empresa multinacional que cotiza en bolsa), CONSISTENTLY
EARNING PROFIT IS EVERY COMPANY'S GOAL (el objetivo de todas las
empresas es obtener ganancias consistentemente). IN SHORT, REVENUE
(ingresos) – EXPENSES (gastos) = PROFIT (beneficio).