A
B
C
D
F
G
H
100
A general increase in prices over time, reducing the purchasing power of money.
What is Inflation
100
A business owned by only 1 person
What is a sole proprietorship
100
What does COGS stand for?
Cost of Goods Sold
100
What is the profit equation?
Revenue - COGS - Expenses = Profit
100
What is the primary goal of a business?
To earn a profit
100
The United States is best classified as which type of economy?
Mixed Economy
100
The percentage of businesses that fail in the first year.
80%
200
What are the two types of Corporations?
C-Corp & S-Corp
200
What are the 4 P's
Product, Price, Place, Promotion
200
Name the 3 ideologies that shape economic systems
Capitalism, Socialism, Communism
200
How many shareholders can a C-Corp have?
Unlimited
200
What are the 4 phases of the business cycle?
Expansion, Peak, Contraction, Trough
200
A business type where profits must be reinvested back into the organization
What is a Non-Profit
200
Limited resources vs. Unlimited wants
What is scarcity
300
Value of the next best alternative
What is Opportunity Cost
300
North Korea is a modern example of which type of economy?
Command Economy
300
What is the purpose of the Vision and Mission Statements of your business?
To state your current and future goals.
300
Where do potential investors typically look right after reading the Executive Summary section of a business plan?
Financial Plan
300
What percent of businesses in the United States are classified as small businesses?
80%
300
What is the field of study around how people make choices with limited resources?
Economics
300
Individual or small group of individuals who strike out on a path to start a new business.
What is Entrepreneurship
400
What are the 5 steps of design thinking?
Empathize, Define, Ideate, Prototype, Test
400
How many sharholders can an S-Corp have?
Up to 100
400
An intangible asset that is intended to create distinctive images and associations in the minds of stakeholders, thereby granting economic benefit or value.
What is a brand.
400
What are the 3 fundamental questions every economic system must answer?
1. What to produce
2. How to produce
3. For whom to produce
400
This forms the foundation of all transactions
Relationship between the buyer and seller
400
A business that sells its right to use its name and business model.
What is a Franchise
400
What does DTC stand for?
Direct to Consumer
500
What is a marketing campaign?
A series of promotional activities designed to advertise over a set period of time- not just once.
500
What are the 5 shifters of demand?
Tastes or preferences
Number of consumers
Related Goods prices
Income
Expectations
500
This measures how sensitive the demand for a good or service is to a change in its price.
What is price elasticity
500
When does equilibrium occur?
When Supply equals Demand
500
This acronym measures the trade price changed in a "basket" of common goods.
What is CPI (Consumer Price Index)
500
For what type of business is Design Thinking most relevant?
All types of businesses
500
What does GDP stand for?
Gross Domestic Product
600
When does deman-pull inflation occur?
When demand exceeds supply
600
What is it called when there is a cycle disruption that leads to a contraction of the economy?
Economic Shock
600
This keeps a business competitive and relevant?
What is Innovation.
600
Marketing done through online channels like email, websites, and search engines
What is digital marketing.
600
This law states that as price increases, quantity demanded usually decreases
What is the Law of Demand
600
This Asian country is often referred to as having a free market economy.
What is Singapore
600
This type of inflation occurs when production costs, like wages or raw materials, rise and businesses pass those costs to consumers.
Cost Push Inflation
700
This U.S. government agency publishes key data to measure of inflation
The Bureau of Labor and Statistics
700
This shifter of demand is largely the cause of increased prices of Taylor Swift tickets for the Era's Tour.
What is Tastes & Preferences
700
This is when the percentage change in quantity demanded is greater than the percentage change in price, often seen with luxury goods.
What is Elastic Demand
700
In this economic ideology, the government owns and controls most of production, aiming to distribute resources equally among citizens.
What is Socialism
700
This acronym, AAPL, for the business Apple is example of what is know as a what?
What is a Ticker Symbol
700
This data point is a way to check if a stock is "worth" its price, like gauging if it's a good deal.
What is P/E Ratio
700
How many sectors are publicly traded business categorized into on the New York Stock Exchange?
11
800
A portion of a company's profits that gets paid out to its shareholders.
What is a Dividend
800
The data point used to show how much profit a company makes for each share of stock defined by the formula Net Earnings รท Total Shares?
What is EPS or Earnings Per Share
800
A low P/E ratio indicates what type of valuation?
Undervaluation
800
The 3 primary indexes tracking the stock markets performance.
What are the:
S&P 500, Dow Jones, NASDAQ
800
When stock prices are falling, and investors expect more declines the stock market is referred to as this.
What is a Bear Market.
800
IPO stands for what?
Initial Public Offering
800
A collection of investments owned by an individual or organization.
What is a portfolio.
900
The financial statement showing assets, liabilities, and equity.
What is the Balance Sheet
900
The process of choosing between alternatives
What is decision making
900
What type of stock offers fixed dividends and priority payouts but usually no voting rights and less growth potential?
What is Preferred Stock
900
This term is for total value of a company's shares (price x number of shares)
What is Market Cap
900
What company traded on the New York Stock Exchange owns this brand?
Pepsico
900
In a traditional economy economic roles are most commonly determined by what?
Gender, age, or family lineage
900
A housing bubble and banking crisis triggered which well known economic shock?
The 2008 Financial Crisis