Basics
what is an entrepreneur
What is the main goal of a business in the American enterprise system?
what is profit
What is a common measure of a nation's economic well-being in the American enterprise system?
what is gross domestic product
What does it mean when a company sells products or services for less than what it costs to make them?
what is loss leader
What do you call money that owners of a firm invest to help it get off the ground?
what is venture capital
What is the term for the freedom of individuals and businesses to make economic choices in the American enterprise system?
what is economic freedom
what is the opposite of a monopoly where there are many sellers and buyers?
what is competition
Which federal agency is in charge of overseeing and implementing security laws in the United States?
what is the securities and exchange commission
What does ROI stand for?
what is return on investment
What is a key feature of the American enterprise system that allows individuals to own, buy, and sell property?
what are private property rights
What type of business structure limits the liability of its owners?
what is a corporation
What is the indicator of an economy's money circulation speed?
what is velocity
Which kind of corporate structure—which frequently ends in "LLC"—is recognized for having limited liability?
what is limited liability company
What term describes the concept that businesses and individuals are responsible for their own financial well-being in the American enterprise system?
what is personal responsibility
What is the market where stocks and bonds are bought and sold?
what is stock exchange
What is the name given to the process by which two businesses merge to become a larger business?
what is merger
Identify the document which includes the mission, values, and goals of a company.
what is a mission statement
What term refers to the economic system where prices are determined by supply and demand without government interference?
what is laissez faire capitalism
What term describes the economic concept where government spending exceeds government revenue?
what is deficit
What economic system is characterized by government ownership and control of the means of production?
what is socialism