A market in which decisions about what and how much to produce are made by the market aka by the buyers and sellers who negotiate the prices of goods and services provided.
100
Talk about a business event that you went to and one thing that you learned.
...
200
What type of business limits partners' risk of losing their personal assets if the business goes sour?
limited liability partnership
200
If Donny's Car Joint has $500 worth of assets and $300 worth of liabilities, how much owner's equity does it have?
$200
200
What measures the degree to which a firm relies on borrowed funds in its operations?
Leverage Ratio: Debt/Equity
200
What is the degree of competition in which there are only a few sellers who dominate a market?
Oligopoly
200
Who was the "father of economics"?
Adam Smith
300
McDonald's, Dunkin' Donuts, 7-Eleven, Subway, and Holiday Inn are all examples of?
Franchises
300
What is the difference between revenue and profit?
Revenue is your sales. Profit is your sales - cost of making the goods, running the company and paying taxes.
300
Current Assets: $1000
Current Liabilities: $500
Owner's Equity: $500
Revenue: $2000
Operating Expenses: $400
Net Income: $500
What is the ROI?
What is the economic system that is based on the premise that some basic businesses (steel mills, utilities, etc.) should be owned by the government so that profits can be more evenly distributed among the people?
Socialism
300
What is the U.S. unemployment rate?
8.3%
400
What kind of merger would it be if cheerios decided to buy a box making company?
Vertical
400
The Statement of Cash Flows are broken up into three sections. What are those sections?
Operating, Financing and Investing
400
What is the difference between a private and public accountant?
A private accountant works for one entity. A public accountant can work for different individuals and/or businesses.
400
What is the total value of final goods and services produced in a country in a given year?
The Gross Domestic Product (GDP)
400
What is LeBow's motto?
Learn Here. Lead Anywhere.
500
What is a leveraged buyout?
An attempt by employees, management, or a group of investors to buy out the stockholders in a company, primarily by borrowing the necessary funds.
500
On the balance sheet, assets are listed according to how _____ they are.
liquid
500
What's the main difference between managerial and financial accounting?
Managerial accounting provides information to managers inside the organization.
Financial accounting provides financial information to people primarily outside the organization.
500
Draw a graph of the supply and demand curves?
Y-Axis: Price
X-Axis: Quantity
Supply curve slopes down
Demand curve slopes up
500
You have a steady job in the Philly, but the love of your life lives in LA. If you decide to quit your job and move to LA to look for employment, you will be a part of _______ unemployment.