Math 1
x=20-22
Solve for x.
-2
x=30+25
Solve for x.
x=55
The cost a company incurs to generate revenue.
Expenses
Name one example of a natural resource.
Sun, water, wind, wood, etc.
McDonalds offers what type of business?
Product
12=x-8
Solve for x.
x=20
-12=x-12
Solve for x.
x=0
These include any wages, payroll taxes, benefits and insurance that a business or business owner pays to employees who are directly involved in the manufacturing process or responsible for producing the goods or services offered to customers
Labor Costs
What do you call cotton, plastics, steel, oil, grain, or minerals.
Raw Materials
True or false: Needs are more important than wants.
True.
8=16-x
Solve for x.
x=8
14=9-x
Solve for x.
x=-5
What do you call the amount of money a business generates before taking out expenses?
Revenue
These are expenses that are not material or labor. This includes, rent, utilities, and taxes.
Overhead
True or false: Consumers are people who make goods and sell them.
False
y=2x+2
What is the SLOPE of this equation?
2/1.
y=2x+2
What is the y-intercept in this equation?
2
What color represents a negative ratio between the expenses and revenue?
Red
What do you call the amount of money that a business takes home after expenses?
Profit
True or false: Consumers and producers rely on each other in the economy.
True.
y=196x-3
What is the y-intercept in this equation?
-3
y=5x+2
What is the slope in this equation?
5/1
What color represents a positive ratio between the expenses and revenue?
Black
If McDonald's decided to start its own delivery, what type of business would it be?
Both a service and a product
What type of economy does the United States have?
Mixed