Personal Finance
What is retirement?
This is the formula for Gross Profit.
What is Revenue - COGS (cost of goods and services)?
This is a business environment in which a small number of companies control the entire market.
What is an oligopoly?
These two developments in society resulted in A&P failing to adapt and going bankrupt.
What are cars and refrigerators?
This is the economic concept that as the quantity of a good produced increases the cost to produce it decreases.
What are economies of scale?
This is the first step in the financial order of operations.
This is the price that is paid for innovation and efficiency in a market economy.
What is profit?
This is a business environment in which there is formal collusion between companies to prevent competition from developing.
What is a cartel?
Businesses such as electric or power utilities can only maintain there existence as a monopoly through the help of this.
What is the government?
This is using secret knowledge which the general public does not have access to in order to make a profit on trading stocks.
What is insider trading?
This is what qualifies as high-interest debt.
What is anything over 7%?
This is the concept that the larger a company is the more difficult it is to make changes and adapt.
This is the business type which has a small number of owners.
What is a pertnership?
Jack Welch from General Electric fired the bottom 10% of his work force. This is an example of this economic concept.
What is creative destruction?
Corporations are defined by separating these two categories of running the business.
What are shareholders and management?
This category is what over 60% of the federal budget is spent on every year.
What is mandatory spending or entitlement programs?
These are two of the three categories that cause businesses to succeed or fail.
What are social, economic, and technological factors?
This is legislation which seeks to eliminate non-competitive forms of behavior.
What is anti-trust legislation?
This is the industry which brought up the necessity of corporations to undergo large-scale projects.
What is shipping to and from India and the New World?
This form of the Efficient Market Hypothesis states that all past and current information in a market, public or private, is accounted for in the price of a stock.
What is the strong form?
This is the number of compounding periods a credit card has in 2 years.
What is 24?
This is the incorrect belief that destruction can cause economic innovation and activity.
What is the Broken Window Fallacy?
What is limited liability?
Rockefeller paid for large amounts of research and development in order to lower costs and innovate, later developing gasoline and plastics. This was the original product which was used as fuel.
What is kerosene?
True / False: The total wealth of an economy is deeply impacted by widespread monopolies.
What is FALSE?