BANKS
What is the name of a bank account where you can take money out anytime?
Checking account
What is the name for advertising on TV, internet, or billboards?
Advertising
What do you call a person who starts their own business?
Entrepreneur
If price goes up, what usually happens to demand?
Demand usually goes down
This is the money a sports team makes from selling tickets to games.
Ticket revenue
What do you call money a bank pays you for keeping your savings there?
Interest
What do you call the group of people a product is meant for?
Target market / target audience
What is the name of a short plan explaining how a business will make money?
Business plan / Business model
What do you call the amount of a product available to sell?
Supply
Athletes often sign this type of contract to promote products and appear in ads
Endorsement deal
What is it called when you borrow money from a bank and must pay it back later?
Loan
What is the 4-letter concept that stands for Product, Price, Place, Promotion
The 4 Ps (Marketing Mix)
What do you call money invested in a startup in exchange for ownership?
Equity investment / Venture capital
What is the point where supply and demand meet called?
Equilibrium price / Market equilibrium
This is the term for the amount a team or player is officially worth.
Valuation / Franchise value
What term describes the percentage cost you pay each year on a loan?
Interest rate / APR (Annual Percentage Rate)
What term means building a strong image or identity for a company?
Branding
What is the term for a business owned by shareholders but run by managers?
Corporation
What term means demand changes a lot when price changes?
Elastic demand / Price elasticity
Many professional leagues share money from TV deals. This type of revenue is called…
Broadcast / Media revenue
What is the name of the system where banks only keep part of deposits and loan the rest out?
Fractional reserve banking
What marketing strategy uses customer data to show personalized ads online?
Targeted advertising / Personalized advertisin
What is it called when a startup is valued at over $1 billion?
Unicorn
What is the name for government limits on how high or low prices can go?
Price controls (price ceiling or price floor)
When a company pays a sports team to have its logo on jerseys, stadiums, or events, it is called…
Sponsorship