Business Vocabulary
Types of Ownership
Factors of Production
Business Environment
Economics
100
Define business

What is any organization that provides goods and services in an effort to earn a profit. 

100
Miss Schmeck's aunt's business is an example of this type of business ownership.
What is Sole Proprietorship?
100
Sun is an example of this factor of production.
Natural Resources
100
The components of the business environment
What are, economic, social, technological, global, and competitive environment (in any order)
100
The Great Recession took place in this year. 
What is 2008?
200
The Profit Equation
What is Revenue minus Expenses? 
200
Advantage to partnership over a sole proprietorship.
What is larger pool of finances? (or at discretion of teacher)
200
Henry Ford's assembly line is an example of this Factor of Production. 
What is capital? 
200
Technology improves/modifies business transactions in this way.
What is a variety of transaction methods? (Or at discretion of teacher)
200
Buyers and sellers both benefiting from the exchange of goods or services is this Free Enterprise Component.
What is Voluntary Exchange?
300

Way to manipulate the economy through selling and buying Government Securities (treasury bonds).  

What is Monetary Policy
300
Benefit of Limited Liability Company compared to that of a corporation. 
What is lower tax rate? 
300
Mrs. Brewer's business experience is this factor of production. 
Human resource
300
A opportunity of the aging population in this business industry.
What is Medical (or at discretion of teacher)?
300
The steps of the business cycle.
What is Contraction, Expansion, Recovery, Peak, Trough (In any order)
400
16 or older, looking for work but can't find any. 
What is unemployment rate?
400
Disadvantage of corporation taxation. 
What is double taxation? 
400
The idea to create a product or service and to earn a profit off of it is this factor of production. 
What is Entrepreneurship?
400
Product quality increases and price decreases is a result of this component of the business environment. 
What is competitive environment? 
400
The type of shift in the supply graph due to costs of materials to produce
What is shift in supply? 
500
Strategy to manipulate the economy through taxation and spending patterns. 
What is fiscal policy? 
500
Elected by stockholders of a company and oversee the operation of their company and protect their interest. 
What is Board of Directors?
500
The most important factor of production. 
What is none of them, all are important (or at discretion of teacher)?
500
When employees are happy and productive in the workplace. 
What is workforce advantage? 
500
Price of peanut butter increases, what is the change in demand of sandwich bread? 
What is decrease in demand? 
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