Maslows hierarchy was created by a psychologist named Abraham Maslow
What is the name of the psychologist who created Maslows Hierarchy?
100
coins or bills that must be accepted as payment for goods and services(federal law).
What is the definition of legal tender?
100
Drives down prices, Increases productivity, leads to innovation
What are three benefits to Competition?
100
the balance sheet illustrates a company's book value, and the income statement shows how assets and liabilities are used. The balance sheet shows the company's assets, liabilities and shareholder equity.
What is the difference between balance sheets and income statements?
100
The chance of possible loss of money or reputation that entrepreneurs take when starting a new venture.
What is the definition of risk?
200
Franchise
What is an authorization granted by a government or company to an individual or group?
200
FV= Principal(1+i)^number of years/terms
What is the formula for compound interest?
200
Any method of communication about the promotion of a product in an attempt to induce potential customers to purchase the product.
What is Product advertising?
200
Balance sheets
What is a statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period?
200
Research skills, Management skills, and Relationship skills
What are 3 main skills an entrepreneur requires?
300
Sole proprietorship, partnership, corporations, cooperative
What are the four types of ownership's?
300
Loan made by by you to a corporation(businesses sometimes sell bonds to raise money
What is corporate bonds?
300
Sales start to grow rapidly. Persuasive advertising may be used. Prices may be reduced as new competitors enter the market. Profits start coming.
What is the definition of growth in the product life cycle?
300
Income statements
What is A financial statement that measures a company's financial performance over a specific accounting period. Financial performance is assessed by giving a summary of how the business incurs its revenues and expenses through both operating and non-operating activities?
300
Profit, own hours, opportunities, job security, self satisfaction
What are some benefits to entrepreneurship?
400
Needs and wants, values and goals, choices
What are three factors that influence what consumers buy?
400
demand for and prices for stocks are high
What is the bull market?
400
Assuming that the price of $99.99 will attract more buyer than $100, this is called?
what is psychological/ Odd cent pricing?
400
Assets = Liabilities + Shareholders' Equity
What is the formula for simple accounting?
400
Money loss, long hours, pressure to succeed, responsibility, sacrifices
What are some drawbacks to entrepreneurship?
500
The desire to flaunt purchases to impress others
What is the definition of conspicuous consumption?
500
the bank of Canada is the country's central bank. Its role, as defined in the original Bank of Canada Act of 1934, is "to promote the economic and financial welfare of Canada
What is the bank of Canada?
500
Match products with consumer needs, Match your marketing communications with target market, Gain market share, Retention of consumer(keep costumers), and Increase sales and profits.
What are some benefits of market segmentation?
500
Profit= Revenues-(cost of goods sold+all expenses)
What is the formula for Profit?
500
One who undertakes innovations or introducing new things.