Economics
When supply exceeds demand.
What is surplus?
All items that have a cash value that is owned by the business.
What are assets?
All the money that is owed to others by the business.
What is liability?
A face-to-face meeting with a potential employer where they will ask questions about you and your work experience.
What is a job interview?
This is a summary of a job applicant's education, skills, experience, activities and references.
What is a resume?
The amount an item that consumers are willing to buy at a given price.
What is demand?
The fee paid for borrowing money.
What is interest?
A statement of a business's assets, liabilities and owners equity.
What is a balance sheet?
A way that people can gain work experience in a given field. They may or may not be paid.
What is internship?
A form that gathers info about potential employees. Typical info may include: name, address, education, previous experience, special training and references.
What is a job application?
Also known as factors of production, includes all the items that are used to produce goods and services.
What is economic resources?
A system to manage and control a business's finances.
What is accounting?
Preparing a plan and buying the goods that a business will use for production or resale.
What is purchasing?
This involves guiding a group or business toward their goals.
What is leadership?
A form of communication without using words.
What is nonverbal cues?
The government controls all factors of production (resources) and makes all the economic decisions.
What is a command economy?
This occurs when prices rise.
What is inflation?
A statement of a business's income and expenses over a period of time, such as one month or a year.
What is income statement?
A person that serves as a source of info and inspiration to someone with less experience.
What is a mentor?
This form lets employers know that a person is interested in a position, how the person heard about the position and supporting details as to why he/she should be hired.
What is a letter of application, letter of intent or cover letter?
The way a business plans to handle any insurable or non-insurable risks they may encounter.
What is risk management?
Cash payment of profits from a corporation to its shareholders.
What are dividends?
The analysis of outside sources that could impact the business environment. Factors that re analyzed include: political, economic, socio-cultural and technological.
What is an environmental scan?
A publication that serves a specific industry.
What is a trade journal?
A way for business people to meet others that are in business and build a list of contacts that can be used for future reference or projects.
What is networking?