Vocab
Two companies combining to form a new company.
What is a merger?
The difference in value between a nation's imports and exports.
What is balance of trade?
The primary goal of all businesses.
What is to earn a profit?
The total income of a company/organization.
What is revenue?
The state of being responsible for something.
What is liability?
A person who organizes and manages any enterprise, usually with considerable initiative and risk.
What is an entrepreneur?
Tax levied by a nation on goods imported into the country.
What is import tariff?
A good or service with tangible and intangible characteristics that provides satisfaction and benefits.
What is a product?
A group of customers who repeatedly purchase the goods or services of a business.
What is a customer base?
The sale of goods and services to foreign markets.
What is exporting?
Economic output of a country is most commonly measured by this.
What is Gross Domestic Product (GDP)?
The first woman appointed as the Chair of the Federal Reserve in the United States.
Who is Janet Yellen?
The study of how resources are distributed for the production of goods and services within a social system.
What is economics?
All the items held by a business for selling in the market to earn a profit.
What is inventory?
The difference between the amount earned and the amount spent in producing something.
What is profit?
A written description of a new business venture that describes all aspects of the business.
What is a business plan?
This country is the largest trading parter of the United States.
What is China?
The funds used to acquire the natural and human resources needed to provide products.
What is capital?
The value of shares issued by a company.
Businesses owned and operated by one individual.
What is sole proprietorship?
An economic cycle that has high unemployment, slowed growth, and rising prices.
What is stagflation?
The Federal Reserve was created under this president.
Who is Woodrow Wilson?
An economic system in which the government owns and operates basic industries but individuals own most businesses.
What is socialism?
Property owned by an entity that is regarded as having value and available to meet debts, commitments, or legacies.
What are assets?
The act of exposing an employer's wrongdoing to outsiders.
What is whistleblowing?