Business Basics
What does SWOT stand for?
Strengths, Weaknesses, Opportunities, and Threats.
This company initially started as a social networking platform for college students and now has over 2.8 billion active users.
What is Facebook?
This abbreviation refers to the highest executive position in a company, responsible for overall management and decision-making.
What is CEO? (Chief Executive Officer)
This type of business ownership involves two or more individuals who share responsibility, profits, and liabilities.
What is a partnership?
This company became the first to reach a $1 trillion market capitalization in 2018.
What is Apple?
These are the two main things a business provides to consumers in exchange for money.
What are goods and services?
Founded in 1987, this company is known for its innovative video game consoles and has been a leader in the gaming industry with its Xbox series.
What is Microsoft?
This term refers to the point at which total revenue equals total costs, meaning a business is not making a profit or a loss.
What is the break-even point?
This company introduced the first general-purpose credit card in 1958, now one of the largest payment networks in the world.
What is Visa?
This economic indicator measures the total value of goods and services produced in a country within a year.
What is Gross Domestic Product (GDP)?
This market structure exists when a single seller controls an entire industry with no close substitutes, giving them significant pricing power.
What is a monopoly?
This company filed for the largest bankruptcy in U.S. history in 2008, with over $600 billion in assets, marking a pivotal moment in the global financial crisis.
What is Lehman Brothers?
This agreement between Canada, the U.S., and Mexico, which was replaced by the USMCA, aimed to eliminate trade barriers.
What is NAFTA?