Planning, organizing, staffing, directing, and controlling a company’s resources so it can achieve its goals.
What is Management
100
The three goals of an economy?
What is
Growth
High Employment
Price Stability
100
Has Many sellers sell standardized products.
What is Perfect Competition
100
any activity that provides goods or services to consumers for the purpose of making a profit.
What is Business
200
When the economy starts growing again
What is a Recovery
200
Convert(s) resources…into goods or services…to ensure...products are...high quality.
What is Operations
200
Study of the production, distribution, and consumption of goods and services.
What is Economics
200
Has only one seller in a given country or other geographical area. Company can control price.
What is Monoploy
200
Difference between the revenue that a company brings in from selling goods and services and the costs of generating this revenue.
What is Profit
300
A slowdown in economic activity
What is a Recession
300
Everything that a company does to identify customers’ needs and design products to meet those needs.
What is Marketing
300
Three questions does an economist try to answer?
What Goods & Services Should Be Produced...?
How Should Goods & Services Be Produced?
Who...Receives The Goods & Services Produced?
300
Two types of monopolies?
What is Natural
Legal
300
The market value of all final goods and services produced by an economy in a given year. It includes only goods and services produced domestically.
What is GDP
400
A time when the economy expands, unemployment is low, incomes rise, and consumers buy more products. Businesses increase production and offer new, better products.
What is Prosperity
400
this area measures, summarize(s), and communicate(s) financial and managerial information...and advise other managers on financial matters.
What is Accounting
400
The reports used to measure the economy and what are they measuring.
What is:
GDP- Growth
Unemployment- Employment level
Price Stability- Consumer Price Index
400
Many sellers sell products that, though differing slightly (or are perceived to differ), serve similar purposes (they’re called differentiated products). Sellers have limited control over price.
What is Monopolistic competition
400
The economic system in which the government exerts control over the allocation and distribution of all or some goods and services.
What is Planned
500
Phase is the US economy in and why would you make that assessment?
What Recession/Recovery
500
Area planning for, obtaining, and managing a company’s funds.
What is Finance
500
Two different types of economies?
What is Planned and Free Market.
500
Few sellers selling similar products, each seller controls a sizable portion of the market. Companies have some control over prices (but must still respond to competition).
What is Oligopoly
500
Study of the economy as a whole and the study of the economic choices of individual consumers & businesses