Financial Literacy
A financial plan that tracks your income, expenses, and saving goals.
What is a budget?
The system in which people can start their own businesses and compete in the market.
What is free enterprise?
The concept of entrepreneurs improving an existing idea
What is innovation?
The name for resources like land, labor, capital, and entrepreneurship.
What are the factors of production?
The two largest business clubs at SBHS.
What are FBLA and DECA?
Money that you earn from working.
What is income?
People who open their own businesses.
What are entrepreneurs?
Entrepreneurs often create this detailed plan outlining finances and goals before opening a business.
What is a business plan?
The idea that there are limited resources but unlimited wants and needs.
What is scarcity?
The name of the New Jersey conference at which our FBLA members compete in March.
What is the FBLA State Leadership Conference (SLC)?
When you keep your money in a savings account, the bank pays you ______.
What is interest?
The essential rights within a free enterprise system that allow individuals to purchase and own land/equipment.
What are property rights?
Entrepreneurs commit to a little bit of _____ with every business idea that might not succeed.
What is risk?
What you give up when you make a decision in economics.
What is opportunity cost?
The current advisors for the SBHS FBLA chapter.
Who are Ms. Nichols, Mr. Maitland, and Ms. Henning?
A small portion of a company that you can buy/sell.
What is a stock?
The traditional name for an economic system in which the government has little to no control over.
What is a laissez-faire economy?
The money/equipment that entrepreneurs gain to start a business.
What is capital?
The economic system in which the government has control over the economy.
What is a command economy?
The two committees in our SBHS FBLA chapter.
What are community service and competitive events?
The result when you subtract expenses from revenue.
What is profit?
In a free enterprise market system, prices are determined by these two factors.
What are supply and demand?
Firms that invest in early businesses with a high potential for growth.
What are venture capital firms?
The price at which supply and demand are equal.
What is the market price?
The SBHS FBLA advisors before the 2023-2024 school year.
Who are Ms. Hunte and Ms. Bogert?