unit 1
what does cogs stand for?
cost of goods sold
what type of economy does the unted states have?
mixed economy.
true or false investors love pictures more tham paragraphs
true
what is equilibrium?
supply = demand
what does ppi stand for
producer price index
what is the term for age gender, weation,income level
demographics
what is a sole porprietorship
one person, full control
from the 4 phases of the business cycle, what is it called when GDP is growing?
expansion
what is the term for evenything that happens inside a company to create and deliver value?
operations
what do all busesses have in common
they solve problems for customers
what is the term when prices go down demand goes down?
law of demand
what is the name of the plan that tells investors if you'll make money?
financial plan
what is the first step in the design thinking process?
empathize
what are the 3 ideslogies shaping economic systems?
capitalism solialism+communism.
what are the 4 P's?
product, price ,place, promotion