Economics
The basic economic problem where human wants are unlimited, but resources are limited.
What is Scarcity?
The famous 4 Ps of Marketing are Product, Price, Place, and this fourth component.
What is Promotion?
The percentage charged by a bank on borrowed money, or paid to you on savings.
What is Interest Rate?
A person who takes on the financial risk to start and operate a new business venture.
What is an Entrepreneur?
This tech giant became the first publicly traded US company to reach a $3 trillion market cap.
What is Apple?
The law stating that as the price of an item goes up, the quantity buyers want goes down.
What is the Law of Demand?
A memorable phrase or catchy sentence used in advertising to represent a brand, like Nike's "Just Do It."
What is a Slogan (or Tagline)?
A financial plan that tracks your expected income and expenses over a specific period.
What is a Budget?
The official document outlining a business’s goals, target market, and financial projections.
What is a Business Plan?
The corporate model where a business operates online only without physical brick-and-mortar stores.
What is E-Commerce?
The value of the next best alternative you give up when you make a choice.
What is Opportunity Cost?
The specific group of consumers at which a company aims its products and services.
What is a Target Audience (or Target Market)?
A small piece of ownership in a public corporation bought on exchanges like Nasdaq or the DFM.
What is a Stock (or Share)?
The main leader and highest-ranking executive officer in a company, abbreviated as CEO.
What is Chief Executive Officer?
The global currency symbol used for the official monetary unit of the European Union.
What is the Euro (€)?
The total value of all goods and services produced within a country's borders in a single year.
What is GDP (Gross Domestic Product)?
The strategic framework that stands for Strengths, Weaknesses, Opportunities, and Threats.
What is a SWOT Analysis?
The general increase in prices over time, which lowers the purchasing power of your money.
What is Inflation?
Funding provided by investors to startup companies believed to have high growth potential.
What is Venture Capital?
The business term for buying products from another country to sell in your own home country.
What is Importing?
A market structure where a single company dominates and controls the supply of a product or service.
What is a Monopoly?
The term for a recognizable symbol, name, or design that legally differentiates a company's product from competitors.
What is a Trademark (or Brand Identity)?
The practice of spreading investments across different assets to lower financial risk.
What is Diversification?
A business model where an individual buys the rights to open a location of an established brand, like McDonald's or Subway.
What is a Franchise?
The economic concept named after an animal that describes a stock market where prices are falling and investor sentiment is low.
What is a Bear Market?