Buisness Fundamentals
Production and sale of goods and/or services
What is Buisness
The process of converting a business’s resources into goods and services
What is Production
Publicity is the act of bringing company activities to the attention of the public
What is Promotion
A plan that helps you track income and expenses.
What is a budget?
This type of business communication is usually sent within an organization and includes sections such as To, From, Date, and Subject.
What is a memo?
Any item that you can purchase, possess and use
What is a good
Is the human elements of production
Land
Sales training program and advertisers use the ____ formula to try and stimulate sales
What is AIDA
Money set aside for unexpected expenses such as car repairs or medical bills.
What is an emergency fund?
This type of professional document typically includes the sender's address, date, inside address, salutation, body, and closing.
What is a business letter?
Acts that are performed in exchange for money
What is a Service
The person who brings together all the factors of production and starts the business
What is Entrepreneurship
The four elements of the traditional marketing mix are Product, Price, Place, and this.
What is Promotion.
The amount a bank pays you for keeping money in a savings account.
What is interest?
This Microsoft program is used to organize data, perform calculations, and create charts.
What is Excel?
Provides the good or service to the consumer
What is a Supplier
Is the process of recording and analyzing information about the financial position of an organization
What is Financial Accounting
The process of dividing a market into smaller groups based on characteristics like age, income, or interests.
What is market segmentation.
This three-digit number helps lenders determine how trustworthy you are with borrowed money.
What is a credit score?
This Microsoft program is used to store, manage, and query large amounts of related data in tables.
What is Access?
A business setting means that consumers and producers depend on each other for business to work
What is Interdependence
are the guidelines developed by professional accountants for the way accounting records and financial statements are prepared
What is the GAAP's
A marketing strategy where a company uses a well-known social media personality to promote products.
What is influencer marketing.
Interest earned on both the original amount invested and previously earned interest.
What is compound interest?
This Excel feature allows users to visually represent data using bar, line, pie, or column formats.
What is a graph (or chart)?