What is a Business
Lawncare
How many owners does a Sole proprietorship need?
1 owner
what 3 questions does very economy answer?
What to produce
How to produce
For whom to produce
What is revenue?
The money you collect/ the money someone gives you
How many owners does a general partnership need?
2 or more owners
What are the 4 main economic systems?
Traditional, command, market, and mixed economies
What does COGS stand for?
Cost of Goods Sold
How many share holders can a C corporation have?
Unlimited
what is inflation?
General increase in prices overtime
What is the revenue equiation?
Revenue-COGS-expenses=COGS
How many share holders can a S corporation have?
Up to 100
What does CPI stand for?
Consumer Price Index
What is the difference between buyer and seller?
Buyer buys products and seller sells products
What percent of businesses in the U.S. are small businesses?
80%
What does PPI stand for?
Produce Price Index